Railway linked firms' stocks volatile ahead of budget

A day ahead of the railway budget, stocks of companies associated with the railways turned volatile during Wednesday's afternoon trade session.

At the Bombay Stock Exchange (BSE), shares of wagon maker Texmaco Rail and Engineering fell 2.44 percent to trade at Rs.139.85 (12.30 p.m.) from its previous close of Rs.143.35.

Stocks of another wagon manufacturer, Titagarh Wagons declined 5.73 percent at Rs.582 from its previous close of Rs.617.40.

Hind Rectifiers shares too declined. They fell by 1.97 percent at Rs.79.50 from the previous close of Rs.81.10.

Shares of Transformers and Rectifiers (India) slipped by 0.37 percent at Rs.188 per equity share from the previous close of Rs.188.70.

However, scrip of Kalindee Rail Nirman (Engineers) increased by 0.57 percent at Rs.140, moving up from its previous close of Rs.139.20.

Container Corporation of India's stocks also gained during Wednesday's afternoon trade session. It was up 0.89 percent at Rs.1,589.45 from its previous close of Rs.1,575.50.

Another firm, Stone India's stocks rose 0.77 percent at Rs.85 from its previous close of Rs.84.35 per equity share.

The markets expect the budget to bring fiscal stability to the railways and fund inflows for modernisation, in line with the government's proposal for infrastructure development through the public-private partnership (PPP) model.