Texmaco Rail to raise Rs. 300 cr.

Texmaco Rail & Engineering Ltd., which is in the process of merging with Kalindee Rail Nirman (Engineers) Ltd., has decided to raise Rs. 300 crore for expansion and diversification. The board of the Adventz group company took the decision to raise funds through equity issue.

The wagon maker reported a net loss of Rs. 7.84 crore against a net profit of Rs. 11.37 crore. The company suffered losses due to absence of the Railways orders in the first quarter. The Texmaco Rail scrip finished at Rs. 91.65, down 2.81 per cent, on the BSE.


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