Texmaco Rail Surge 6 Per cent On Order From DFCCIL

Shares of the Texmaco Rail surged more than 6 per cent on Friday after the company said that it has signed contracts for Signaling and Telecommunication System from Dedicated Freight Corridor Corporation of India (DFCCIL).

Texmaco Rail along wit three companies has won order worth Rs 1,800 crore.

"A four-company consortium of Texmaco Rail & Engineering, Hitachi Japan, Mitsui & Company and Hitachi India has won a contract for design and construction of signal & telecom works of STP5 project," says the Kolkata-based rail solution company in its fling to exchange.

STP5 is a part of the dedicated freight corridor traversing India's biggest industrial cluster between Delhi and Mumbai.

For this project, consortium leader Hitachi Japan will manufacture key equipment for signaling system and Mitsui will provide overall coordination with DFCCIL. Hitachi India and Texmaco will supply domestic equipment. Texmaco will also carry out installation.

Shares of the company were seen trading at Rs 147, higher by 8.8 per cent on BSE at 12.29 pm IST. IT touched an intra-day high of Rs 149.90 during the trade.

Goodreturns.in