Texmaco Rail Share Price: Significant Rally of Nearly 9% on Major International Order
On Thursday, June 26th, Texmaco Rail Share Price witnessed a substantial surge of approximately 9% during the initial trading hours. This positive movement followed the announcement of a significant international order secured by the company.
Texmaco Rail & Engineering Limited, a leading railway sector company, achieved a major international milestone on Thursday. The company received a substantial order worth ₹535.6 crore from a prominent entity in Cameroon, Central Africa. Immediately following this news, Texmaco’s shares experienced a b rally, rising by nearly 9%.
This order holds particular significance for the company as it represents a major step towards ‘Make for World’ vision – India’s commitment to manufacturing and supplying goods to international markets. Texmaco is now strengthening its presence not only in domestic railway projects but also on a global scale.
Details of the New Order
Texmaco Rail has been awarded a contract by CAMALCO SA, a company based in Cameroon. Under this agreement, Texmaco will be responsible for the design, construction, and complete maintenance of over 1,600 open freight wagons (freight wagons). These wagons will be used for the transportation of bauxite minerals.
Company information indicates that Texmaco will manufacture these wagons entirely within India and subsequently ship them to Africa. This contract has been awarded based on the company’s engineering expertise, technical proficiency, and production capabilities.
Increased Order Book
With this recent contract, Texmaco Rail’s total order book has surged to ₹7,820 crore. Representatives from the company stated that this order is not just a source of commercial benefit but also strengthens Texmaco’s position in emerging markets like Africa.
Chairman Indrajit Mukherjee explained that this order reflects India’s engineering and manufacturing capabilities on the global stage, aligning with the Prime Minister’s ‘Make for World’ vision.
Confidence Expressed by Cameroonian Company
Mr. Rana Pratap Singh, CEO of CAMALCO SA in Cameroon, expressed his delight at the signing of this agreement, stating that it will provide new impetus to infrastructure development in his country. He praised Texmaco’s technical skills and its ability to deliver on time.
Additional Deals Provide Benefit
Texmaco Rail also received two major railway contracts in early June. On June 10th, the company secured a contract worth ₹44.04 crore from Mumbai Railway Development Corporation (MRVC). This contract is related to the construction of traction transformers, substations, and associated works for the Central Railway’s third and fourth lines.
Furthermore, on June 3rd, MRVC awarded another contract to the company, totaling ₹122.31 crore. This project is related to traction transformers and technical installations for Western Railway, which is scheduled to be completed within 30 months.
These projects collectively demonstrate the increasing demand for Texmaco Rail, not only in India but also in international markets.
Strong Market Reaction
Following the announcement, investors in Texmaco Rail expressed enthusiasm. On Thursday, the company’s shares experienced an increase of approximately 9% during the initial trading hours. Texmaco’s share opened 2.6% higher and quickly rose to nearly 9%. This surge also reflects investor confidence in the company.
Strategic Thinking and Strong Management
Managing Director Sudip Mukherjee stated that such international agreements are a result of Texmaco’s strategic vision and long-term planning. He explained that Texmaco’s goal is to become a leading global supplier of railway equipment and services, not just in India but worldwide.
Texmaco’s Position in the Industry
Texmaco Rail & Engineering Limited is one of India’s leading infrastructure companies specializing in railway infrastructure. The company is known for its expertise in rail freight wagons, bridge girders, railway signaling equipment, hydraulic bridge platforms, and heavy engineering works. Its headquarters are located in Kolkata, West Bengal.
Texmaco has a long history of working with Indian Railways and is now strengthening its position in the international market. The company’s strategy is to develop technologically advanced, high-quality products delivered on time, attracting a global customer base.
A Matter of National Pride
This agreement is also a significant achievement for India’s engineering and manufacturing sector, bolstering the country’s global reputation and potentially opening doors to further international orders in the future.
