Texmaco Rail & Engineering Limited shares hit a day high of Rs 107.04 on 29 October, up 6%, after a Rs 412 crore Railways wagon order.

The Ministry of Railways raised its existing order for BOXNS wagons by 1,020 units, taking it from 3,400 to 4,420, in an amendment letter dated 28 October, the company told exchanges.

The extra wagons are worth Rs 412.32 crore. Railways used a clause in the original contract that lets it order more.

The price and terms stay the same. BOXNS wagons are open, high-sided freight cars that mostly carry coal and other bulk goods.

The extra batch must be delivered by 11 June 2027, which is 162 days after the revised deadline for the original order.

With the top-up, the full contract is now worth Rs 1,786.74 crore, taxes included, or about Rs 40.4 lakh per wagon.

Neither the promoter nor any promoter group company has any interest in the Ministry of Railways, and the deal is not a related-party transaction.

The original order, for 3,400 wagons worth Rs 1,374.41 crore, dates back to December 2023.

Texmaco, part of the Adventz group, makes freight wagons, hydro-mechanical equipment and steel castings, and also handles rail electrification and track projects.

On 1 September, the firm received a $135 million letter of award, a formal notice of a contract win, from South Africa’s Tsiko Africa Logistics and Barberry Holdings to supply diesel-electric locomotives.

In the June quarter, revenue fell 16.9% to Rs 756.68 crore, though profit jumped 70.57% to Rs 50.03 crore. Its order book stood at Rs 9,923 crore on 30 June.

Texmaco Rail closed at Rs 104.16 on the NSE, up Rs 3.36 or 3.33% from the previous close of Rs 100.80.

It’s still down 17.48% over the past month, as per NSE data. Market value is about Rs 4,238 crore.

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