Rail-related stocks hit 52-week low

Titagarh Wagons, Texmaco Rail, Kalindee Rail and Kernex Microsystems were down 14%-29% in past three trading days.

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Shares of railway-related companies such as Titagarh Wagons (Rs 85), Texmaco Rail & Engineering (Rs 90), Kernex Microsystems (Rs 32.50) and Kalindee Rail Nirman (Rs 96) are trading lower for third straight day, hitting their respective 52-week lows after the Rail Budget fell short of industry expectations.

Since February 25, post Railway Budget, all these four stocks had fallen between 14%-29% on the BSE as compared to 0.13% rise in the S&P BSE Sensex.

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Texmaco Rail & Engineering which fallen 29% in past three trading sessions, hitting 52-week low of Rs 90 during intra-day trade today, said the Rail Budget is clearly aimed at expanding and strengthening the infrastructure and leveraging technology for all round growth.

Texmaco Rail and its subsidiaries, Kalindee and Bright Power, would be significant beneficiaries of the thrust in the Budget in stepping up the commissioning of new tracks and increased outlay on Railway Electrification by almost 50%.

The plan to accelerate the target of laying new lines from an average of 4.3 km/day in last 6 years to 7 km/day in FY’17, 13 km/day in FY’18, and 19 km/day in FY’19, would serve in a big way to de-congest the rail routes and meet the challenge of rail movement picking up to cope with the projected GDP growth, it added.

Company	24/02/2016	26/02/2016	LTP	% chg*	% chg#
Kalindee Rail	135.00	102.90	97.70	-5.05	-27.63
Kernex Microsys.	37.80	34.20	32.50	-4.97	-14.02
Titagarh Wagons	123.75	91.95	88.00	-4.30	-28.89
Texmaco Rail	131.05	98.75	93.40	-5.42	-28.73
Sensex	23088.93	23154.30	23118.33	-0.16	0.13
LTP : Last traded price on BSE at 10:25 AM.