Texmaco Rail hits new high

Texmaco Rail Engineering seems to be chugging along just fine; from its close of Rs.171.10, the stock today opened at Rs.187.60 and went on to hit a 52-week high at Rs.188.95 on the back of a 2.5-times surge in volume.

The stock price hit a high on receipt of an order from the Rail Ministry (Railway Board). This is for manufacture and supply of 3,400 BOXNS wagons valuing Rs 1374 crore approximately.

This comes closely on the back of another order win last month by its JV – this order was worth Rs.180 crore from SJVN Arun-3 Power Development Company, for its 900MW hydropower project in Nepal.