Railway stocks slip second day in row

Railway stocks continued to slip for the second consecutive day ahead of the Railway Budget on February 24, due to overall weakness in market coupled with profit taking. Most of these stocks had appreciated between 10-40% in last two weeks.

Kernex Microsystems is trading 4.5% lower at Rs 160 and Kalindi Rail Nirman is down 4% at Rs 194. Titagarh Wagons, Texmaco, Stone India and Hind Rectifiers declined 1-4% each on the BSE.

Hind Rectifiers has dropped to Rs 73, down 4% from its previous close. Stone India has declined 2% to Rs 64.

Titagarh Wagons is down 1% at Rs 109 on the BSE. The counter has clocked volumes of 1.6 million shares on the BSE as compared to the two- week daily traded volumes of 1.18 million shares on the BSE.

Texmaco is down 1% at Rs 147. The counter has clocked volumes of 1.21 shares as compared to the two-week daily average traded volumes of 1.39 million shares on the BSE. Railway stocks on Monday also slipped 5-10%.