Hold Texmaco Rail, says Phani Sekhar

Hold Texmaco Rail, says Phani Sekhar of Angel Broking.

Sekhar told CNBC-TV18, "One can hold Texmaco Rail and Engineering because given this Budget that you have seen  this year and what is likely to follow next year life is not going to change for any of these companies. So, it is business  as usual.”
He further added, “The order book for now remains good but at the rate at which they are going you will have concerns  on order book in six to nine months time. Valuations are not very demanding and that’s the only positive I see here. So,  if one is a very long-term player he/she can hold on and maybe on steeper declines one can add with a clear view that  he/she will have to be with these stocks for at least two years."