Rail stocks end on mixed note ahead of Budget

Rail stocks witnessed a mixed trend in an otherwise weak broader market today ahead of the Rail Budget on Thursday.

Shares of Kernex Microsystems fell by 3.08 per cent, Titagarh Wagons lost 2.60 per cent, Texmaco Rail & Engineering was down 1.80 per cent and Kalindee Rail Nirman Engineers slipped by 1.68 per cent on BSE.

In contrast, Hind Rectifiers and Stone India defied the weak broader market trend and gained 3.41 per cent and 0.52 per cent, respectively.

Meanwhile, in the broader market the benchmark BSE Sensex fell by 321.25 points or 1.37 per cent to end at 23,088.93.

Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget tomorrow as railway finances come under tremendous strain.

Railways have earned Rs 136,079.26 crore as against the target of Rs 141,416.05 crore during April-January period, a decline of 3.77 per cent.