Sell Texmaco Rail: Rajesh Agarwal

Rajesh Agarwal, Eastern Financiers is of the view that one should sell Texmaco.

Agarwal told CNBC-TV18, “I don’t think there is any hope for Texmaco Rail and Engineering in the very near future. It has become almost yearly ritual that every time when we near 26th February - that’s the Railway Budget day, these kind of stocks start moving up or showing some buzz. But after that, you see volumes really going downs. Maybe some of the stocks would trade around 5,000-10,000 odd volumes per day. So I don’t think there is any hope in the stock neither on the volume side nor on the fundamental side to be in this company for a very long term also. This gentleman is looking for a period of only three-four months. So it is better to get out around the Budget day when you might get Rs 3-4 upside from the current market price. Otherwise, I would suggest a sell on the stock.”