Multibagger rail stock climbs 6%; here is why
In the update, the company mentioned that the contract that entails the manufacture as well as the supply of 3,400 BOXNS waggons is to be executed in three tranches by December 31, 2025.
Shares of Texmaco Rail and Engineering climbed over 6 per cent to Rs 173.45 in Thursday’s early trade (December 21) on the BSE after the company, in an exchange filing, provided an update on the order worth it had recently bagged from the Ministry of Railways.
In the update, the company mentioned that the contract that entails the manufacture as well as the supply of 3,400 BOXNS waggons is to be executed in three tranches by December 31, 2025.
“..for manufacture and supply of 3,400 BOXNS wagons out of which the 1st tranche of 1133 wagons to be executed by 31st December, 2024; the 2nd tranche of 1133 wagons to be executed by 30th" June, 2025 & 3rd tranche of 1134 wagons to be executed by 31st December, 2025,” said the company’s filing with the exchanges.
The stock logged its all-time high of Rs 188.8 per share last week on December 15.
The railway counter has given multi-bagger returns of over 204 per cent in the last 12 months, significantly outperforming Nifty, which has given returns to the tune of over 15 per cent during this time.
Texmaco Rail & Engineering Limited is engaged in the business of manufacturing rolling stock, hydromechanical equipment, steel castings, agricultural equipment, and other equipment.
The company is categorised as a small-cap stock with a m-cap of Rs 6,840 crore. Its peer companies include the likes of Titagarh Rail Systems, Jupiter Wagons, BEML, and Oriental Rail Infrastructure.
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