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Texmaco Rail rises on forming JV with Wabtec Corporation

16 Oct 2014 Evaluate

Texmaco Rail & Engineering is currently trading at Rs. 85.00, up by 0.10 points or 0.12% from its previous closing of Rs. 84.90 on the BSE.

The scrip opened at Rs. 87.00 and has touched a high and low of Rs. 87.75 and Rs. 84.75 respectively. So far 21568 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 149.80 on 08-Jul-2014 and a 52 week low of Rs. 28.55 on 30-Oct-2013.

Last one week high and low of the scrip stood at Rs. 87.75 and Rs. 83.00 respectively. The current market cap of the company is Rs. 1548.14 crore.

The promoters holding in the company stood at 63.25% while Institutions and Non-Institutions held 26.04% and 10.71% respectively.

Texmaco Rail & Engineering has formed a joint venture (JV) with Wabtec Corporation (Westinghouse Air Brake Technologies Corporation), a leading global provider of products for freight rail cars, passenger transit cars and locomotives, including brake equipment, electronics (including train control), doors, couplers, bogies, pantographs and engine rebuilds. The JV has been formed to initially provide hi-tech Freight products and services such as Draft Gear, Bogie Mounted Braking, and other State-of-the-Art Railway Products to the Indian Rail network, which is expected to expand and modernize.

Wabtec Corporation has roots back to 1869, when George Westinghouse revolutionized the Rail industry with the invention of air brakes. The company is a global supplier of highly engineered components & systems for Rail & select Industrial markets.

This cooperation will enable the new entity to bring to the Indian Railways the latest generation of Safety & Control equipment and Systems, a critical need for Indian Railways and a high priority area for the Government.

Texmaco Rail & Eng. Share Price

106.04 2.44 (2.36%)
17-Apr-2026 16:59 View Price Chart
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