Texmaco Rail Share Price Soars by Nearly 5% on Thursday
Texmaco Rail & Engineering’s share price surged to Rs 190.80 on Thursday, marking a near 5% increase. The company is aiming to provide 3,400 railway wagon orders in the first quarter of the next financial year. Texmaco Rail & Engineering’s Executive Director and Vice Chairman, Indrajit Mukherjee, stated that the company is in the process of fulfilling the 3,400 railway wagon orders by June 2024. He mentioned this in an interview with a news channel.
Texmaco Rail’s share has seen rapid growth in the past year, with an increase of more than 335%. On February 23, 2023, Texmaco Rail’s shares were trading at Rs 43.80. However, on February 22, 2024, the company’s shares reached Rs 190.80. Over the past six months, Texmaco Rail’s shares have increased by over 57%, rising from Rs 120.85 to Rs 190.80. The company’s 52-week high for share price is Rs 231.90, while the 52-week low is Rs 40.49.
Mukherjee expressed optimism about further growth in share price as the company has several pending orders. Many orders could not be completed last year, so there are multiple orders to fulfill simultaneously. The new orders will come from both Indian Railways and private freight car owners. By December 2023, the company had booked freight train orders worth Rs 5,700 crore. Texmaco Rail has increased its production capacity by 400%.
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