Rs 9,000 crore order book: Heavy buying in this multibagger railways wagon stock; hits back-to-back 52-week highs!
From Rs 44.95 per share to Rs 154.6 per share, the stock gave multibagger returns of 244 per cent in just 6 months.
On Monday, the benchmark indices ended the trading session in green with the BSE Sensex Index up by 110 points or 0.17 per cent at a level of 64,996.60.
Along with the market in green, one of the Top Gainers on BSE, shares of Texmaco Rail & Engineering Ltd surged 13.28 per cent to Rs 148.45 per share with an intraday high of Rs 154.60 and an intraday low of Rs 134.75. The stock also made a new 52-week high of Rs 154.60 per share with a spurt in volume by more than 2.47 times on BSE.
The stock is hitting back-to-back 52-week highs after reporting stellar Quarterly Results. In Q1FY24, the net sales skyrocketed by 120 per cent to Rs 657 crore from Rs 299 crore in Q1FY23. The company reported an operating profit of Rs 21 crore and a net profit of Rs 15 crore in Q1FY24 compared to an operating loss of Rs 10 crore and a net loss of Rs 23 crore in Q1FY23.
According to the annual results, the net sales increased by 38.28 per cent to Rs 2,243 crore and net profit increased by 11.11 per cent to Rs 20 crore in FY23 compared to FY22. As of March 31, 2023, the company’s order book stands over Rs 9,000 crore while the company’s market cap is Rs 4,778 crore. The company has been maintaining a healthy dividend payout of 21 per cent.
Texmaco Rail & Engineering Ltd is an engineering infrastructure company & part of the Adventz Group. The company is involved in the business of manufacturing rolling stock, hydro-mechanical equipment, steel castings & construction of Rail EPC, bridges, and other steel structures.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 699/- Click here to subscribe now
From Rs 44.95 per share to Rs 154.6 per share, the stock gave multibagger returns of 244 per cent in just 6 months whereas BSE Small-Cap Index is up by 32 per cent. Investors should keep an eye on this railways wagon stock.
Disclaimer: The article is for informational purposes only and not investment advice.