Texmaco Rail and Engineering shares zoom on strong September quarter earnings

Texmaco Rail share price, Texmaco Rail results: Texmaco Rail and Engineering shares on Monday, October 16, skyrocketed as much as 12 per cent to hit the day's high of Rs 150 apiece on the BSE after the rail solution provider company reported a 60 per cent year-on-year (YoY) jump in consolidated net profit at Rs 24.64 crore in the July-September quarter of the current financial year against Rs 1,5.43 crore reported in the year-ago period. In the September quarter, Texmaco Rail’s revenue from operations rose 66 percent YoY to Rs 8,05.04 crore against Rs 4,84.41 logged in a year ago period. 

Texmaco Rail and Engineering share closed 3.1 per cent higher at Rs 138 on BSE. As many as 8.58 lakh shares exchanged hands on BSE against 1.37 lakh shares 2-week average quantity on Monday.

Here's how the counter moved on Wednesday: 

Source: NSE

Besides, the company's board has considered and approved the demerger of its "Infra - Rail & Green Energy'' division into "Belgharia Engineering Udyog Private limited" and approved a scheme of arrangement in this regard to ensure a focused business approach subject to necessary approvals including that from the Securities and Exchange Board of India (SEBI), the shareholders and creditors of the company and the company law tribunal, Kolkata bench ("NCLT").

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.