Texmaco Rail & Engineering soars 6%, signs agreement with Israel’s Lesico Group
DSIJ Intelligence / 05 Jul 2017
Texmaco Rail & Engineering soared over 6.64% at Rs 93.90 per share on BSE.
Texmaco Rail & Engineering soared over 6.64% at Rs 93.90 per share on BSE.
Adventz Group had signed a USD 2 billion agreement with Israel’s Lesico group on Tuesday to collaborate in light rail transit (LRT) projects in Tel Aviv and Jerusalem.
Texmaco’s role will involve laying of tracks, installation of signalling, electrification, power sub-stations, and command, control and communication equipment.
The MoU between Lesico and Adventz Group, under which the latter’s group company Texmaco Rail & Engineering Ltd will lend its expertise in building the Tel Aviv Metropolitan Area Mass-Transit System, will be a first for an Indian conglomerate.
Meanwhile, the stock on NSE attracted a traded volume of 27,58,356 shares and a traded value of 2,644.99 lakh on Wednesday’s intraday trade.
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