Wagon makers fall; rail budget seen lacking spark
Reuters Market Eye - Shares of wagon manufacturers extend falls after the 2013/14 railway budget unveiled by the government was seen as lacking big announcements or projects.
Texmaco Rail and Engineering Ltd (TEXA.NS) falls 1.84 percent, while Titagarh Wagons Ltd (TITW.NS) ended down 8.3 percent.
Kalindee Rail Nirman Engineers Ltd (KALI.NS) slumps 11.2 percent, while BEML Ltd (BEML.NS) lost 3 percent. Stone India ended down 16.2 percent in trade.
(Reporting by Abhishek Vishnoi)
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The recent market correction was overdue. A further correction would be an opportunity for those who missed the rally in the past few months. The markets could get a reality check next year and consolidate before the next big movement. I still believe PM Modi will not fritter away his mandate and deliver on his promise, albeit with a delay, writes Ambareesh Baliga. Article