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. 
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. Shares of Texmaco Rail & Engineering Ltd are in focus today after the railway firm said its Board of Directors would meet on February 27 to consider a proposal for raising funds.
Texmaco Rail & Engineering shares ended 4.58% higher at Rs 190.80 on BSE in the previous session. Total 4.56 lakh shares of the firm changed hands amounting to a turnover of Rs 8.38 crore. Market cap of the firm rose to Rs 7314 crore.
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.
“A Meeting of Board of Directors of the Company is scheduled to be held on Tuesday, 27th February, 2024, inter-alia, to consider a proposal for raising of funds by way of issuance of equity shares / preference shares / bonds / debentures / warrants or any other eligible securities through permissible modes, including but not limited to Preferential Issue, Private Placement, Qualified Institutions Placement or any equivalent capital raising mode or combination of methods as may be permitted under the applicable laws, subject to such regulatory/statutory approvals as may be required including the approval of shareholders of the Company,” the firm said in a communication to BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 48.9, 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 334.62%.
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.
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