Texmaco Rail & Engineering shines on inking MoU with Nevomo
Texmaco Rail & Engineering is currently trading at Rs. 143.75, up by 2.35 points or 1.66% from its previous closing of Rs. 141.40 on the BSE.
The scrip opened at Rs. 145.55 and has touched a high and low of Rs. 145.90 and Rs. 142.50 respectively. So far 29167 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. 134.40 on 18-Feb-2025.
Last one week high and low of the scrip stood at Rs. 152.75 and Rs. 135.20 respectively. The current market cap of the company is Rs. 5744.34 crore.
The promoters holding in the company stood at 48.14%, while Institutions and Non-Institutions held 16.58% and 35.28% respectively.
Texmaco Rail & Engineering has entered into a strategic Memorandum of Understanding (MoU) with Nevomo, a Polish technology entity founded in 2017, European pioneer in next generation Magrail technology and Linear Propulsion Systems along with related technology solutions. This pioneering agreement heralds a new era of rail infrastructure innovation, high speed rail solutions, AI-powered predictive diagnostics, self-propelled wagons, and driverless freight trains to revolutionize mobility in India and on the global stage.
This alliance aims to redefine the rail industry by co-developing and implementing Nevomo’s cutting-edge Magrail technology and Linear Propulsion Systems along with related technology solutions. Leveraging the company’s extensive manufacturing capabilities and Nevomo’s technological prowess, the collaboration aspires to bolster rail network efficiency, expand capacity, and modernize existing railway & port systems along with quantum efficiency improvement in mines, captive rail & logistics setup. Furthermore, it underscores India’s vision to become a global leader in next-generation transportation solutions and make in India initiatives.
As India undergoes a significant transformation in rail infrastructure, this strategic partnership between the company and Nevomo is poised to play a pivotal role in shaping the future of the industry. By merging their manufacturing, engineering, and technological expertise, the two companies are committed to redefining mobility on a global scale.
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.
