Texmaco Rail & Engineering moves up on completing acquisition of Jindal Rail Infrastructure
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Texmaco Rail & Engineering is currently trading at Rs. 238.35, up by 1.70 points or 0.72% from its previous closing of Rs. 236.65 on the BSE.
The scrip opened at Rs. 234.20 and has touched a high and low of Rs. 239.65 and Rs. 234.20 respectively. So far 21563 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 296.60 on 12-Jul-2024 and a 52 week low of Rs. 110.45 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 253.65 and Rs. 230.65 respectively. The current market cap of the company is Rs. 9453.39 crore.
The promoters holding in the company stood at 48.14%, while Institutions and Non-Institutions held 18.03% and 33.83% respectively.
Texmaco Rail & Engineering has completed acquisition of Jindal Rail Infrastructure (JRIL). As a result of this, JRIL has now become a wholly owned subsidiary of Texmaco.
Earlier, the company had entered into definitive agreements with JRIL, and its existing securities holders namely, JITF Urban Infrastructure Services and Siddeshwari Tradex for the acquisition of 100 percent of the share capital of JRIL on a fully diluted basis.
The parties have now completed all the conditions precedent and the acquisition of all of the rights, title and interest in all of the securities of JRIL held by the existing security holders of JRIL on a fully diluted basis.
JRIL has leading capabilities in R&D, design and manufacturing of commodity specific freight wagons. With this acquisition, Texmaco enhances its international product portfolio and innovative approach becoming a clear leader especially in the design process. Given the growing demand for new design rolling stocks from the private sector, this transaction is a leap forward for Texmaco in providing one-stop solutions.
Texmaco Rail & Engineering is a private engineering and infrastructure company based in India. It is primarily engaged in the business of manufacturing railway wagons, coaches, and locomotives, as well as providing related services.
