Mumbai: Stocks of companies associated with the Indian Railways reversed their early gains, as analysts did not see much for their benefit in the Rail Budget.
The stocks were trading with robust gains this morning, but lose momentum after the budget proposals were announced in the Parliament by Railway Minister Dinesh Trivedi.
Shares of Kalindee Rail Nirman (Engineers) slumped by 7.80 percent to Rs 103.45, while wagon maker Texmaco Rail and Engineering plunged 6.46 percent to Rs 66.60 at the BSE .
Kernex Microsystems slipped by 7.20 percent, Titagarh Wagons was down 5.90 percent, while Gateway Distriparks fell by 0.17 percent.
However, Bharat Earth Movers was trading with a modest gain of 0.63 percent.
An increase in passenger fares across all classes, more than 100 new trains, enhanced frequency or routes for many others, and plans to hire more than one lakh employees were some of the key Rail Budget proposals.
First Published: Wednesday, March 14, 2012, 16:38