Texmaco Rail bags order for Bangalore Metro

Texmaco Rail & Engineering Limited informed the bourses that its Rail EPC division has received an order of Rs. 521 crore for Bangalore Metro Rail Project - Phase 2. This is one of the largest orders for Metro Ballastless track laying work in India from the Bangalore Metro Rail Corporation Limited.

The consolidated order book position of the company with its subsidiaries stands at Rs. 5,200 crore.

Earlier on Monday, the company reported Q1FY19 numbers. The bottomline of the company turns positive in Q1FY19 to Rs. 6.51 crore as against net loss of Rs. 8.65 crore in the corresponding quarter last year.

In the recent quarter, the execution of Railway Board's current order of 1,764 wagons commenced at a slow pace and going forward it is expected to pick up momentum. The tender for procurement of 22,258 wagons by Railways for the next two years is expected to be opened in the middle of August 2018 and the order is likely to be placed shortly, thereafter.

On Tuesday, the stock opened at Rs. 77.50 per share and made an intraday high and low of Rs. 78.15 and Rs. 70, respectively, on the BSE.