Nuvama has maintained a buy rating on Texmaco Rail but revised its target price to ₹211 from ₹214 earlier. The revised target implies a potential upside of approximately 29% from the current market price of ₹163.45.
The brokerage noted a steady operating performance, though the company’s orderbook has declined year-on-year due to delays in wagon tendering. It cited the absence of any hike in railway outlay as a reason to reduce the P/E multiple from 35x to 30x. On the strategic front, Texmaco continues to pursue partnerships aimed at enhancing its global presence.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions.
