Texmaco Rail Bags Rs 253.28 Crore JSW Rail Logistics Order

On Friday, shares of Texmaco Rail & Engineering Ltd rose 0.39 per cent to close at Rs 109.75 per share from its previous closing of Rs 109.32 per share. The stock's 52-week high is Rs 189 per share and its 52-week low is Rs 78.05 per share. During the session, the stock touched an Intraday high of Rs 109.97, representing a gain of approximately 0.59 per cent over the previous close.

Texmaco Rail & Engineering Ltd has received a significant order from JSW (South) Rail Logistics Pvt Ltd. The company informed exchanges that it has been awarded a Letter of Intent (LoI) valued at Rs 253.28 crore, including Taxes.

According to the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the contract involves the manufacture and supply of BFNSM1 rakes along with BVCM wagons.

JSW (South) Rail Logistics Pvt Ltd, a domestic entity, has awarded the order to Texmaco Rail. The contract is scheduled to be executed within 13.5 months from the effective date or commencement of work.

The total consideration for the order stands at Rs 253.28 crore, including taxes. The company clarified that neither the promoter, promoter group nor group companies have any interest in the entity awarding the contract.

Texmaco Rail further stated that the order does not fall under related-party transactions and has no related-party implications.

Texmaco Rail & Engineering Ltd, a part of the Adventz Group, is an engineering and infrastructure company engaged in the manufacturing of rolling stock, hydro-mechanical equipment, steel castings, and the execution of Rail EPC projects, bridges, and other steel structures.

The latest order is expected to strengthen the company's Order Book and reinforces its presence in the Railway wagon manufacturing segment.

The company has a market cap of over Rs 4,465.34 crore. The stock price has surged over 56.23 per cent in the last 3 years.

From its 52-week low of Rs 78.05 per share, the stock has delivered a return of approximately 40.62 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.

What are your views on Texmaco Rail's latest Rs 253.28 crore order win? Share your thoughts in the comments below.