Buy Texmaco Rail on dips: Parag Thakkar

Parag Thakkar of HDFC Securities told CNBC-TV18, "Railways remains a very good long term play. For last 4-4 years nothing has happened. So, the base effect is so low that you will see at least 40-50 percent growth in topline for companies like Titagarh Wagons and Texmaco Rail. So, I would like to but them on dips. The correction has started today, I think it is just going to last for one or two days. Something like Texmaco Rail really looks interesting."

On Tuesday, Texmaco Rail and Engineering closed at Rs 143.35, down Rs 14.55, or 9.21 percent. It has touched an intraday high of Rs 158.90 and an intraday low of Rs 128.00.