Texmaco Rail trades higher on getting LoA worth Rs 1374.41 crore
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Texmaco Rail & Engineering is currently trading at Rs. 178.70, up by 7.60 points or 4.44% from its previous closing of Rs. 171.10 on the BSE.
The scrip opened at Rs. 187.60 and has touched a high and low of Rs. 188.95 and Rs. 178.00 respectively. So far 1091228 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 172.30 on 14-Dec-2023 and a 52 week low of Rs. 40.49 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 172.30 and Rs. 152.70 respectively. The current market cap of the company is Rs. 6936.51 crore.
The promoters holding in the company stood at 58.70%, while Institutions and Non-Institutions held 8.44% and 32.86% respectively.
Texmaco Rail & Engineering has received Letter of Acceptance (LoA) from Ministry of Railways (Railway Board). The order is for manufacture and supply of 3,400 BOXNS wagons valuing around Rs 1374.41 crore. Earlier, the company had received approval from board of directors for raising of funds up to Rs 1,000 crore by way of issuance of Equity Shares through qualified institutions placement (QIP).
Texmaco Rail & Engineering operates in two business segments: heavy engineering division and steel foundry division. It manufactures a diverse range of products, such as railway freight cars, and hydro-mechanical equipment.
