Kalindee Rail soars on securing Rs 197 crore order
DSIJ Intelligence / 30 Jan 2017
On Monday morning, while benchmark indices were trading flat, Kalindee Rail Nirman (Engineers) Limited outperformed by surging more than 8 per cent to make a high of Rs 124 per share after securing an order of Rs 197 crore from dedicated freight corridor corporation of India (DFCCIL).
On Monday morning, while benchmark indices were trading flat, Kalindee Rail Nirman (Engineers) Limited outperformed by surging more than 8 per cent to make a high of Rs 124 per share after securing an order of Rs 197 crore from dedicated freight corridor corporation of India (DFCCIL).
Kalindee Rail Nirman, a subsidiary of Texmaco Rail and Engineering, has secured a prestigious order of Rs 197 crore from DFCCIL for designing, supplying and construction of track and other track related work for eastern dedicated freight corridor (Eastern DFC).
"This order is an important milestone to the company's railway track construction expertise, matching global standards," the company reported.
Shares of Kalindee Rail is trading above 50 and 200 DMA of 113.85 and 109.17 respectively, with a huge volume of 6.94 lakhs till 12:35 pm on Monday as against its 2 weeks average volume of 1.83 lakhs.
Reportedly on January 30, they are conducting a board meeting to discuss about the record date for issuing and alloting shares of Texmaco Rail and Engineering to the existing shareholders of Kalindee Rail Nirman (Engineers) Limited. The investors would certainly keep a close tab on this event.
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