Mumbai, Texmaco Rail and Engineering witnessed a remarkable surge as its shares rose by 10%, reaching a 52-week high of Rs 188.95. The boost came after the company successfully secured a substantial order worth Rs 1,374.41 crore from the Ministry of Railways.
The order, detailed in the Railway Board’s letter of acceptance, involves the manufacturing and supply of 3,400 BOXNS wagons, marking a significant contract for Texmaco Rail and Engineering.
This accomplishment follows the company’s successful fundraising in November, where it raised Rs 744 crore through a Qualified Institutional Placement. Additionally, in October, Texmaco Rail, in a joint venture with SS Fabricators and Manufacturers, secured a noteworthy order valued at Rs 179.89 crore from SJVN Arun-3 Power Development Company Limited.
Texmaco Rail and Engineering reported strong financials for the September quarter, registering a 70% YoY increase in consolidated net profit, reaching Rs 20 crore. The consolidated income witnessed a notable 64% YoY rise, amounting to Rs 810 crore.
The positive market response to Texmaco’s recent developments reflects investor confidence and optimism surrounding the company’s growth trajectory.
As of 9:20 am, Texmaco Rail and Engineering is trading at Rs 184.45, indicating an increase of Rs 13.35, or 7.80%, on the BSE.
