Texmaco Rail shares in focus after Rs 44 crore order win from Mumbai Railway Vikas Corporation
ADVERTISEMENT On Tuesday, Texmaco Rail said it had secured the Rs 44.04 crore contract from MRVC for a traction infrastructure project on the Central Railway.
'...we wish to inform you that Mumbai Railway Vikas Corporation Limited, vide its letter dated June 9, 2025, has awarded an order of Rs 44.04 crore to the company for the supply, construction, installation, testing, and commissioning of traction transformers, SPs, and associated works,' the company stated in a stock exchange filing.
The scope of the project includes setting up a 1X25 kV, 110/25 kV traction substation (TSS) with 40/56 MVA AC traction transformers, two sectioning posts (SPs), and related infrastructure for the third and fourth lines of the Central Railway. The project is expected to be completed within 18 months.For the March quarter, Texmaco Rail posted a 17.5% year-on-year rise in revenue to Rs 1,346.4 crore, driven by steady execution across its railway and engineering verticals. Operating performance also improved, with EBITDA rising 14.7% to Rs 97.6 crore, while EBITDA margins held steady at 7.3%.
ADVERTISEMENT However, net profit declined 12% year-on-year to Rs 40 crore, compared to Rs 45 crore in the same quarter last year.During the quarter, the company also announced its international expansion plans, with an initial investment of AED 50,000 in its newly incorporated wholly owned subsidiary, Texmaco Middle East DMCC.
ADVERTISEMENT Shares of Texmaco Rail & Engineering closed at Rs 176.70 on Tuesday, down Rs 1.15 or 0.65% on the BSE. The stock has gained 10% in the past week and 32.5% over the last three months, though it remains down 9.3% over the past year.From a technical standpoint, the stock is currently trading above seven of its eight key simple moving averages (SMAs)—the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day SMAs—while remaining below its 200-day SMA.
ADVERTISEMENT The Relative Strength Index (RSI) stands at 68.8, indicating the stock is nearing overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 7.8 and remains above both its centerline and signal line, a bullish indicator.
Also read | GIFT Nifty up 30 points; here's the trading setup for today's session
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
29 minutes ago
- Economic Times
India building commercial silicon fab with 50,000 per month wafer production capacity: Union minister Ashwini Vaishnaw
Agencies Union minister Ashwini Vaishnaw India is building a commercial-scale silicon-based fabrication facility (fab) that will churn out 50,000 wafer starts per month, even as such fabs usually operate at 20,000-40,000 wafer starts per month, electronics and information technology (IT) minister Ashwini Vaishnaw said on Friday. The minister was referring to the Rs 91,000 crore fab being built by Tata Electronics in Gujarat's Dholera, which was approved in February last year. In semiconductor manufacturing, a wafer is a thin, circular slice of a crystalline semiconductor material, most commonly silicon, upon which integrated circuits are fabricated. "Six semiconductor units, one fab and five Assembly, Testing, Marking, and Packaging units, are at different stages of planning, construction and execution. Four more (one silicon carbide fab and three ATMP including the most advanced packaging unit) were approved last week. The entire ecosystem - design, fabrication, packaging, equipment, chemicals, gases - taking shape in Bharat," Vaishnaw said in a post on social media platform X. Two of the largest equipment manufacturers—Applied Materials and Lam Research—are setting up their design, production, and validation facilities in the country, he added. Also Read: Four new semiconductor units worth Rs 4,594 crore to come up in Odisha, AP, Punjab: Union minister Ashwini Vaishnaw Vaishnaw's comments came after Prime Minister Narendra Modi said in his Independence Day speech that while the first proposal to set up a semiconductor factory in India got killed 60 years back, the country will finally get semiconductor chips that are 'Made in India' and 'Made by Indians' before the year is over. Elaborating on the PM's statement, Vaishnaw said semiconductor industry pioneer Robert Noyce had come to India to set up a plant in 1964, but the erstwhile Permit Raj implemented by the ruling Congress Party back then did not allow him to. Royce then moved to Hong Kong and founded global tech major Intel Corporation, Vaishnaw claimed in his post. Nicknamed "the Mayor of Silicon Valley," Robert Noyce was an American physicist and entrepreneur who co-founded Fairchild Semiconductor in 1957 and Intel Corporation in 1968. Fairchild Semiconductor was a pioneer in the manufacturing of transistors and of integrated circuits, while Intel created the world's first commercial microprocessor chip—the Intel 4004—in 1971. Both companies were founded and incorporated in California. Also Read: Crisis-hit global chip companies vie for an Indian summer via partnership The minister also pointed out that Intel had once again tried to set up a semiconductor unit in India in 2005-06. "Once again, it was not allowed because of the policy paralysis of the UPA regime," Vaishnaw said, questioning Congress General Secretary and Member of Parliament Jairam Ramesh on it. Earlier in the day, Ramesh had posted on X that the Semiconductors Complex Ltd (SCL) was established in Chandigarh during the Congress regime, starting operations in Vaishnaw argued that despite being established so many years back, SCL, Mohali, continues to work at just a lab scale. Also Read: Approved semiconductor projects to produce over 24 billion chips per annum: Official Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Ola Electric targets global market with ₹5 lakh Diamondhead EV motorcycle
Ola Electric on Friday unveiled its new electric motorcycle, Diamondhead, with an expected price of Rs 500,000, targeting a foray into the global market. The company said the motorcycle is designed for commuting, touring, and performance riding. Deliveries of these vehicles are expected to begin in the calendar year 2027. Further advancing its localisation drive, the EV major also announced the integration of an indigenously developed 4680 battery cell into two of its key models: the S1 Pro Plus electric scooter and the Roadster X Plus motorcycle. It also showcased a motor without rare earth metals at its Gigafactory. Deliveries of the updated vehicles will begin post-Navaratri. Founder and CEO Bhavish Aggarwal said the Diamondhead aims for a target price of Rs 500,000. 'Our mission is to take biking to the next level not just in India, but across the world,' he added. The addition of the indigenous battery to its portfolio follows the company's launch of its 110-acre Ola Gigafactory, which has an initial capacity of 5 gigawatt-hours (GWh). Ola also refreshed its scooter lineup, unveiling the S1 Pro Sport, which will be priced at Rs 149,999 (ex-showroom, introductory), with deliveries commencing from January 2026. 'The S1 Pro Sport delivers twice the power of others in the segment, with top speed and acceleration suited for both track and city use. It offers performance, safety features, and suspension that competitors lack, and will be priced competitively against current market options,' Aggarwal said. To improve its market share, the company will now retail the S1 Pro Plus at Rs 1,69,999, down from Rs 1,99,999, while the Roadster X Plus is priced at Rs 1,89,999, a cut from Rs 2,24,000. The launch comes at a time when Ola's competitors are rapidly expanding their electric two-wheeler portfolios. In recent months, Bajaj introduced the Chetak 3001 at Rs 99,990 to target the budget EV segment; Hero MotoCorp rolled out the Vida VX2 with flexible battery ownership options; and TVS launched the iQube ST with a bigger 5.3 kWh battery and an extended 212 km range. Ather updated its 450 series with new features like magic twist braking and plans to unveil a new EL platform with software upgrades and faster charging later this month. Meanwhile, Ultraviolette launched the Tesseract scooter, and Royal Enfield is gearing up for the launch of its first electric motorcycle. The S1 Pro Sport's electric motor produces 16 kW of peak power and 71 Nm of torque, enabling a claimed 0–40 km/h time of 2.0 seconds and a top speed of 152 km/h. According to Vahan data from January to July, Ola registered 1,33,134 units in 2025 compared to 2,70,346 units in 2024 — a decline of about 50.8 per cent. This launch comes at a time when the company has been losing market share amid multiple challenges, including thousands of consumer complaints over alleged faulty products that prompted CCPA intervention and a sizable warranty provision, as well as reported glitches in its vehicle registration process following the termination of a vendor partnership during an internal system overhaul. The company outlined plans to scale its hypercharger network to 10,000 chargers by 2026, aiming to cover major urban and intercity routes. Ola also provided an update on its battery cell manufacturing programme, which it said will enable greater localisation of components. According to Aggarwal, this initiative 'will help control costs and reduce import dependence' as electric mobility adoption increases. Ola also unveiled its new MoveOS 6 software, which will add features such as adaptive cruise control, blind spot alerts, a voice assistant, and multiple customisable modes. The company highlighted its in-house 4680 'Bharat' cells, which will power two-wheelers, three-wheelers, energy storage systems, and drones. The motorcycles and scooters will be available through Ola's existing direct-to-customer sales network, with bookings for the scooters starting immediately. Aggarwal said the company's focus is to expand both product offerings and charging infrastructure in parallel, supporting wider adoption of electric two-wheelers in India.
Time of India
an hour ago
- Time of India
Mumbai Businessman held for 92.45 crore ITC fraud granted bail
Mumbai: Businessman Chintan Shah who was arrested by the state GST department for Rs Rs 92.45 crore Input Tax Credit (ITC) fraud under the GST Act was granted bail. Shah, proprietor of Heavy Engineering Products and operator of AK International Engineering, was arrested on July 17, for allegedly availing fraudulent ITC through bogus invoices and non-existent transactions during 2018–2019. Tired of too many ads? go ad free now "Considering the stage of investigation, I think no purpose would be served by keeping the applicant/accused behind bar till submission of charge-sheet/complaint. So far as apprehension regarding tampering the evidence or fleeing from justice is concerned stringent conditions can be imposed against the accused. Thus considering the circumstances on record accused is seems to be entitle for bail." stated S k Fokmare 19th Metropolitan Magistrate. According to the prosecution, Shah used multiple firms to generate fake purchase invoices and claim ineligible ITC without actual supply of goods. Investigators alleged that the fraudulent ITC was used to offset GST liabilities, causing significant revenue loss to the government. Shah's lawyer Sujay Kantawala argued that Shah has no prior criminal record and has been cooperating with the investigation, including making a voluntary tax payment of Rs 1.66 crore. The magistrate also noted that the transactions in question took place over six years ago and that further custodial interrogation was not necessary. Granting bail, the court directed Shah to furnish a personal bond of Rs 2 lakh with sureties.
