Shares of railway giants RVNL and Texmaco gained 1% on 28th August after Texmaco announced a joint venture with RVNL aimed at boosting India’s railway modernisation and export competitiveness.

The new joint venture between RVNL and Texmaco will manufacture freight and passenger rolling stock, including wagons, locomotives, coaches, trainsets, and metro coaches. It will also handle EPC contracts, depot operations and global tenders.

Texmaco, part of the Adventz Group, will hold a 49% stake, while Navratna PSU RVNL will remain the majority partner. The deal is expected to close by December 2025, pending regulatory approvals.

The JV will also explore automation, artificial intelligence and green technologies to provide advanced and cost-effective rail solutions.

Adventz Group chairman Saroj Kumar Poddar said the venture will boost India’s capacity to deliver world-class rail infrastructure, supporting exports, innovation and self-reliance. Texmaco MD Sudipta Mukherjee added that the company will provide next-generation freight, passenger, and metro systems, thereby strengthening the Atmanirbhar Bharat initiative. RVNL Chief Pradeep Gaur said the collaboration aligns with the government’s ‘Make in India’ and green mobility initiatives.

At 11:14 AM, RVNL was up 0.83% at Rs 315.30 and Texmaco was up 0.14% at Rs 138.56 on NSE.

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