Texmaco Rail & Engineering incorporates wholly-owned subsidiary company; stock gains 1.5%

Texmaco Udyog deals in manufacturing of Rolling Stock, Hydro Mechanical Equipment’s, Steel Castings, Rail EPC Works, Construction of Bridges and other steel structures, etc.

Nov 26, 2020 04:11 IST India Infoline News Service

Texmaco Rail & Engineering Limited has incorporated a wholly-owned subsidiary company namely Texmaco Engineering Udyog Private Limited on November 24, 2020.

Texmaco Udyog deals in manufacturing of Rolling Stock, Hydro Mechanical Equipment’s, Steel Castings, Rail EPC Works, Construction of Bridges and other steel structures, etc.

Explaining the object behind the acquisition, company said, “To provide additional opportunities in sectors to supplement the businesses of Parent company,” company which holds 100% of TexUdyog, said.

At around 9.42 am, Texmaco Rail & Engineering Ltd was trading at Rs25.10 per piece up by Rs0.4 or 1.62% from its previous closing of Rs24.70 per piece on the BSE.
The scrip opened at Rs25.20 and has touched a high and low of Rs25.20 and Rs24.90 respectively.

Related Story