Railway-related stocks fall on budgeted outlay concerns

Reuters Market Eye - Railway-related stocks extend declines on disappointment pertaining to the budgeted outlay for 2014/15.

Budgeted outlay for FY15 at 643.05 billion rupees, compared to 593.54 bln rupees for FY14, is just an 8.2 percent yearly growth, investors say. 

Texmaco Rail & Engineering Ltd slumps 20 percent, while Kalindee Rail Nirman Engineers and BEML Ltd fall 5 percent each.

Titagarh Wagons Ltd , which has risen 178.2 percent in 2014 against the Nifty's gain of 21 percent, falls 5 percent.

(Reporting by Abhishek Vishnoi)