Multibagger rail stock in focus today on plan to raise funds via preferential issue
Texmaco Rail & Engineering shares ended 1.22% lower at Rs 194.90 on BSE in the previous session. Market cap of the firm fell to Rs 7,471 crore.
- Feb 28, 2024,
- Updated Feb 28, 2024 9:11 AM IST
Shares of Texmaco Rail & Engineering Ltd are in focus today after the railway firm said its Board of Directors has approved plans to raise up to Rs 150 crore through a preferential issue of convertible warrants to its promoters and promoter groups.
Texmaco Rail & Engineering shares ended 1.22% lower at Rs 194.90 on BSE in the previous session. Total 5.12 lakh shares of multibagger rail firm changed hands amounting to a turnover of Rs 10.26 crore. Market cap of the firm fell to Rs 7,471 crore.
The board of Texmaco Rail has authorised its Capital Issue Committee to finalise the structure, terms, and conditions of the issuance, as well as other related matters, the company said in a filing.
The stock hit a 52 week low of Rs 40.49 on March 29, 2023 and a 52 week high of Rs 231.90 on February 2, 2024 on BSE.
Texmaco Rail shares have a beta of 0.4, indicating very low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 51.7, signaling it's trading neither in the overbought nor in the oversold zone. Texmaco Rail shares are trading higher than the 5 day, 10 day, 50 day, 100 day, 200 day but lower than 20 day and 30 day moving averages.
In the last one year, the Texmaco Rail stock has surged 343.96%.
Texmaco Rail reported a 43.46% rise in net sales at Rs 896.44 crore in Q3. Net profit soared 160 percent YoY to Rs 29.37 crore in the December quarter. EBITDA climbed 52 percent to Rs 95.03 crore.
Texmaco Rail’s EPS increased to Rs. 0.89. In the beginning of February, Texmaco Rail and Engineering said it aims to deliver 3,400 rail wagon orders in the first quarter of the next financial year (Q1FY25) riding on a healthy future order book position.
About the company
Texmaco Rail & Engineering manufactures a diverse range of products, such as railway freight cars, hydro-mechanical equipment and industrial structural’s, loco components and loco shells, steel girders for railway bridges, steel castings, and pressure vessels along with engineering, procurement, construction (EPC) contracts for execution of railway track, signaling and telecommunication projects, rail electrification and automatic fare collection on turnkey basis.
Also read: Stock recommendations by analysts for February 28: Tata Communications, BEL and V-Guard
Also read: ZEE shares in focus as firm expands role of its independent advisory committee
Shares of Texmaco Rail & Engineering Ltd are in focus today after the railway firm said its Board of Directors has approved plans to raise up to Rs 150 crore through a preferential issue of convertible warrants to its promoters and promoter groups.
Texmaco Rail & Engineering shares ended 1.22% lower at Rs 194.90 on BSE in the previous session. Total 5.12 lakh shares of multibagger rail firm changed hands amounting to a turnover of Rs 10.26 crore. Market cap of the firm fell to Rs 7,471 crore.
The board of Texmaco Rail has authorised its Capital Issue Committee to finalise the structure, terms, and conditions of the issuance, as well as other related matters, the company said in a filing.
The stock hit a 52 week low of Rs 40.49 on March 29, 2023 and a 52 week high of Rs 231.90 on February 2, 2024 on BSE.
Texmaco Rail shares have a beta of 0.4, indicating very low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 51.7, signaling it's trading neither in the overbought nor in the oversold zone. Texmaco Rail shares are trading higher than the 5 day, 10 day, 50 day, 100 day, 200 day but lower than 20 day and 30 day moving averages.
In the last one year, the Texmaco Rail stock has surged 343.96%.
Texmaco Rail reported a 43.46% rise in net sales at Rs 896.44 crore in Q3. Net profit soared 160 percent YoY to Rs 29.37 crore in the December quarter. EBITDA climbed 52 percent to Rs 95.03 crore.
Texmaco Rail’s EPS increased to Rs. 0.89. In the beginning of February, Texmaco Rail and Engineering said it aims to deliver 3,400 rail wagon orders in the first quarter of the next financial year (Q1FY25) riding on a healthy future order book position.
About the company
Texmaco Rail & Engineering manufactures a diverse range of products, such as railway freight cars, hydro-mechanical equipment and industrial structural’s, loco components and loco shells, steel girders for railway bridges, steel castings, and pressure vessels along with engineering, procurement, construction (EPC) contracts for execution of railway track, signaling and telecommunication projects, rail electrification and automatic fare collection on turnkey basis.
Also read: Stock recommendations by analysts for February 28: Tata Communications, BEL and V-Guard
Also read: ZEE shares in focus as firm expands role of its independent advisory committee