Texmaco Rail zooms 10% on bagging Rs 1,374-crore order from railway ministry

The order win comes days after the the company raised Rs 744 crore via Qualified Institutional Placement in November

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Shares of Texmaco Rail and Engineering rose 10percent to hit a 52-week high of Rs 188.95 in the early trade on December 15 after the company won a Rs 1,374.41-crore order from the ministry of railways.

The rail ministry (Railway Board) through its letter of acceptance has awarded an order to manufacture and supply of 3,400 BOXNS wagons valuing Rs 1374.41 crore approximately, the company said in a release.

In October, the company’s joint venture with SS Fabricators and Manufacturers bagged an order valued at Rs 179.89 crore from SJVN Arun-3 Power Development Company Limited, which is building a 900MW run-of-the-river hydropower project in Nepal.

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In November, the company raised Rs 744 crore through a Qualified Institutional Placement.

For the September quarter, Texmaco reported a 70 percent on-year jump in consolidated net profit at Rs 20 crore. Its consolidated income rose 64 percent YoY to Rs 810 crore.

The consolidated revenue from operations also surged 66 percent on-year to Rs 805 crore.

At 9.20 am, Texmaco Rail and Engineering was quoting at Rs 184.45, up Rs 13.35, or 7.80 percent, on the BSE.