Scrips of railway-related companies decline before rail budget

Mumbai, Feb 25 (IANS) Scrips of companies related to Indian Railways declined in cautious trade Monday, a day ahead of the rail budget.

Companies such as Titagarh Wagons, Kalindee Rail Nirman, Kernex Micro, Stone India, and Gateway Distripark declined at the Bombay Stock Exchange (BSE).

However, state-run Container Corporation and wagon-manufacturer Texmaco gained.

Wagon and freight cars-manufacturer Titagarh Wagons slipped heavily at the BSE and stood at Rs.267.20 per share, down 5.20 percent from its previous close of Rs.281.85.

Scrip of anti-collision systems manufacturer Kernex Micro declined by 9.77 percent and stood at Rs.52.20 from its previous close of Rs.57.85.

Kalindee Rail Nirman, a company involved in execution of railway tracks, signalling and telecommunication projects, at BSE closed 3.10 percent down at Rs.79.60 from its previous close of Rs.82.15 per share.

Engineering firm Stone India, which is engaged in railway construction projects, too saw a decline of 4.81 percent at Rs.23.75 from its previous close of Rs.24.95 per share.

Logistics company Gateway Distriparks' scrip too closed lower. The stock fell 1.38 percent at Rs.123.55 from its previous close of Rs.134.40 a share.

However, state-run logistics company Container Corporation gained 0.73 percent at Rs.990.90 from its previous closing price of Rs.983.75 per share.

Engineering company Texmaco was up 3.50 percent at Rs.62.10 per share from Rs.60, its previous closing price.