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Railway stock jumps 4.5% after it receives order worth ₹187.41 Cr from Govt of Chhattisgarh

Major engineering company has received a ₹187.41 crore order for constructing 132KV transmission lines across 291 km from Chhattisgarh State Power Transmission Co. Ltd., to be completed in 15 months.
Railway stock surges 4.5% after securing ₹187.41 Cr order from Government of Chhattisgarh.

Introduction:

Leading engineering firm has secured a ₹187.41 crore order from Chhattisgarh State Power Transmission Co. Ltd. to construct 132KV transmission lines spanning 291 km. The project is expected to be completed within 15 months, boosting infrastructure growth.

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Share price movement of Texmaco Rail:

On December 17, 2024, Texmaco Rail & Engineering Ltd. opened at ₹236.65, up 3.39% from its previous close of ₹229.10. The stock reached a high of ₹239.65 (4.59%) and a low of ₹231.95. By 12:03 PM, it traded at ₹234.50, a 2.36% increase, with a market cap of ₹9,367.51 crore.

Texmaco Rail Secures ₹187.41 Crore:

Texmaco Rail & Engineering Ltd. has received an order valued at ₹187.41 crore for the construction of 09 132KV transmission lines from Chhattisgarh State Power Transmission Co. Ltd. This contract involves a 291 km stretch of transmission lines, to be executed over 15 months.

The order, awarded by the Government of Chhattisgarh, strengthens the company’s position in the infrastructure sector. The project will be carried out on a turnkey basis, further contributing to the company’s order book and potential revenue growth.

The development marks a significant milestone for Texmaco Rail & Engineering Ltd. as it continues to expand its presence in power transmission projects. The company is expected to begin the project immediately, with a planned completion timeline of 15 months.

Stock performance of Texmaco Rail for Period of 1 week, 6 months and 1 year:

Texmaco Rail & Engineering Ltd. has shown a strong performance with a 3.34% increase in the past week, 11.6% growth over six months, and 29.2% growth in the last year, reflecting its positive momentum in the market.

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Shareholding pattern of Texmaco Rail:

All values in %Sep 2024Jun 2024Mar 2024
Promoter48.10%48.10%48.10%
FII8%9.10%11.00%
DII8.70%9.00%8.30%
Public35.30%33.80%32.50%

About Texmaco Rail:

Texmaco Rail (TEXRAIL) manufactures railway freight cars, hydro-mechanical equipment, loco components, and steel girders. It also handles turnkey EPC projects in rail infrastructure, strengthening its position as a comprehensive rail solution provider.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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