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MUMBAI: Shares of companies related to the rail sector on Friday dropped around five per cent, due to heavy profit booking after the presentation of the Railway Budget in Parliament.

Shares of leading engineering and wagon manufacturers like BEML and Titagarh Wagons dropped five per cent and nearly four per cent respectively. '' The stocks are mainly down due to profit booking after the announcement and it is a usual pattern after an y big event.

Basically, the Railway Budget is good for companies related to this sector and the stocks are likely to regain momentum in the coming days,'' Geojit BNP Financial service Research Head Alex Mathew said.

Bharat Earth Movers Ltd (BEML) touched a low of Rs 1,033.10 down 4.50 per cent on the BSE. Titagrah Wagons dropped to an intra-day low of Rs 423.50, down 3.59 per cent, and closed at at Rs 417.35, down 5 per cent on the Bombay Stock Exchange. - PTI

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