Shares of Texmaco Rail & Engineering Limited surged more than 5% in early morning trade on February 17 (IST) after the company announced a fresh domestic order worth ₹219.18 crore from Mumbai Railway Vikas Corporation Ltd. (MRVC).
In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed exchanges that MRVC has awarded a contract for the design, supply, installation, testing and commissioning of signalling equipment and gears. The order is linked to the construction of a proposed railway line under the Mumbai Urban Transport Project (MUTP-IIIA) in the Mumbai suburban network.
The total contract value stands at ₹219.18 crore, excluding taxes. The work is scheduled to be executed within 36 months from the issuance of the Notice to Proceed, as per the company’s disclosure.
Texmaco Rail clarified that the contract has been awarded by a domestic entity and does not fall under related party transactions. The company also confirmed that neither the promoter nor the promoter group has any interest in the awarding entity.
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