The Texmaco Rail share price jumped over 10% to hit a new 52-week high of ₹188.80 as the markets opened on Friday.
What Happened: The massive surge today comes as the railway company on Thursday announced bagging a ₹1,374.41 crore order from the Indian Railways. As per the order, Texmaco Rail will manufacture and supply 3,400 BOXNS wagons to the Indian Railways.
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BOXNS wagons’ design incorporates a substantial axle load capacity of 25 tons, ensuring robust performance and durability across diverse freight conditions. Notably, these wagons can achieve a maximum speed of 86 kilometres per hour when empty and 45 kilometres per hour when loaded, underscoring their efficiency and safety during transit.
This contract aligns with the Indian government’s ambitious plan to increase the freight traffic share of Indian Railways from the current 27% to a significant 45% by the year 2030. Several other railway companies like Jupiter Wagons and Oriental Rail Infra have been awarded similar contracts, which were announced on Thursday.
Price Action: Texmaco Rail’s share price was trading 7% higher at ₹182.60 as the markets opened on Friday.
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