Texmaco Rail & Engineering Ltd on 31 March announced receiving a Rs 357.11 crore order from JSW Group to produce and supply railway wagons and rakes.

The order comprises the manufacture and supply of BLSS, BLCS, and BFNV rakes, as well as BVCM wagons, according to the company’s exchange filing. The contract is domestic in nature and will be completed over a period of 11 months from the effective date or start of work.

Texmaco Rail stated that the order does not come under related-party transactions and that neither its promoter group nor connected companies have any stake in JSW Group.

The contract also adds to the company’s order book in the rail freight segment, where it continues to supply individual and industrial clients.

In February, Texmaco Rail was awarded a Rs 219.18 crore contract by Mumbai Railway Vikas Corporation Ltd (MRVC) to design, supply, install, test, and commission signalling equipment for a proposed suburban railway line under the Mumbai Urban Transport Project (MUTP-IIIA).

The company’s shares closed 5.69% lower at Rs 78.90 on Monday, ahead of the news. The stock has fallen more than 20% in the previous month and 42.62% over the last six months.

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