Railway related stocks give up gains post Budget

MUMBAI: After remaining in an upward momentum ahead of the interim railway budget, there was some profit booking in the shares of companies that derive a major chunk of their business from the Railways.

Most of the railway stocks gave up their gains and were trading lower in early trade on Monday. Stocks like Texmaco (- 5%), Kernex Micro (-6%) Titagarh Wagons (- 5%), BEML (- 1%) and Kaindee Rail (- 7%) were among the ones which took a beating.

However, Stone India was once again locked on upper circuit of 5% at Rs 25. It has gained close to 30% in the last one week alone. The interim railway Budget focused on building capacity for the future by making the required investments in infrastructure and freight corridor projects.