Texmaco Rail Secures ₹535 Crore Order from Cameroon, Stock Soars 9%

Texmaco Rail & Engineering Ltd. has secured a ₹535 crore export contract from CAMALCO SA in Cameroon to supply 560 open-top wagons and a 20-year maintenance agreement. This significant international order has led to a 9% surge in the company's stock price.

Railway company RITES has received important orders from India and abroad. RITES-Aryan JV has received an order of Rs 37.81 crore for the redevelopment of Tumkuru station. Apart from this, RITES has also received an international purchase order of $ 3.6 million for the supply of two ALCO engines from an African rail company.

Railway-related company RITES has received big orders in India and across the seven seas. After this news, the stock of RITES Limited saw a strong jump on Wednesday. It rose by 7 percent to a high level of 299.80. Currently, at 1 pm, its stock was trading at Rs 296.30.

For which work did RITES get an order of Rs 37.81 crore?

RITES-Aryan JV, a joint venture (JV) associated with RITES, has received a letter of approval from South Western Railway for the redevelopment of Tumkuru station. This project includes services like civil work, signal and telecommunication work. The value of this order is Rs 37.81 crore. The contract has to be completed within 540 days from the stipulated date.