1. Texmaco Rail shares surge over 4% on buying 55% stake in Bright Power

Texmaco Rail shares surge over 4% on buying 55% stake in Bright Power

Texmaco Rail and Engineering shares surged as much as 4.87 per cent after it informed the bourses that it has acquired 55 per cent shareholding in Bright Power Projects (India).

By: | Updated: January 5, 2016 4:56 PM
sensex-reuters660

Texmaco Rail & Engineering shares surged as much as 4.87 per cent after it informed the bourses that it has entered into definitive agreement and acquired 55 per cent shareholding in Bright Power Projects (India). (Photo: Reuters)

Texmaco Rail & Engineering shares surged as much as 4.87 per cent on Tuesday after it informed the bourses that it has entered into definitive agreement and acquired 55 per cent shareholding in Bright Power Projects (India). After this, Bright Power has become a subsidiary of the company with effect from January 4, 2016.

At 12.15 pm, Texmaco Rail & Engineering scrips were trading 3.89 per cent up at Rs 152.40. The share price opened at Rs 151.20 and has touched a high and low of Rs 153.85 and Rs 150.70, respectively, in trade so far. Later, the scrip settled 3.61 per cent up at Rs 152

So far, around 0.99 lakh shares of Texmaco Rail & Engineering exchanged hands on the BSE as compared with two-week average daily volume of 0.56 lakh shares.

The BSE group ‘B’ stock of face value Rs 1 has touched a 52 week high of Rs 170.75 on Feb 23, 2015 and a 52 week low of Rs 101.00 on Aug 24, 2015.

Last one week high and low of the scrip stood at Rs 154.00 and Rs 144.45 respectively. The current market cap of the company is Rs 3195.07 crore.

The promoters holding in the company stood at 54.81 per cent while Institutions and Non-Institutions held 34.28 per cent and 10.91 per cent respectively.

Texmaco Rail & Engineering is one of India’s leading freight car manufacturers and diversified engineering company.

  1. No Comments.

Go to Top