Rail stocks gather momentum as Suresh Prabhu tables Railway Budget

NEW DELHI: Shares of companies related to Railways which extended losses in trade up to 6 per cent on Thursday managed to bounce from their intraday low, as Railway Minster Suresh Prabhu tables rail budget.

Most of these stocks have already rallied sharply in the run-up to the budget in the last one year, and some bit profit booking was on expected lines, say experts.

Shares of Kalindee Rail Ltd which plunged as much as 6 per cent, managed to recoup losses and was trading in positive terrain. Hind Rectifier rallied as much as 7 per cent in trade, followed by Kernex Microsystems which rose as much as 4 per cent in trade on BSE.