Societe Generale one of Europe’s leading financial services groups sold 22,05,323 equity shares in this Multibagger Rail stock, which is involved in the business of manufacturing Rail Infrastructure.
In the day’s trade, the shares of Texmaco Rail & Engineering Limited closed at Rs. 142.90 up 0.95 percent from its previous day’s close price of Rs. 141.55 and its market capitalization is Rs. 5,458 Crores. It has delivered multi-bagger returns of 136 percent in a year.
As per NSE Bulk deals, On November 29, 2023, Societe Generale, one of Europe’s leading financial services groups sold 22,05,323 equity shares of Texmaco Rail & Engineering Limited at Rs. 140.03 per equity share aggregating to a sum of Rs. 308.81 Crores.
Earlier on November 24, 2023, Texmaco Rail & Engineering had allotted 84,42,356 shares to Societe Generale at Rs. 129.11 and others through a qualified institutional placement which was open from November 21, 2023, to November 23, 2023, for Rs. 750 Crores.
As of September 2023, it has a strong order book of 7,800 Crores. It generates 45 percent of its revenue from Freight Cars, 33 percent from Rail Infra & others, 21 percent from steel foundry, and the rest 1 percent from Component systems & solutions.
The company’s revenue from operations grew 38.33 percent from Rs. 1,621.74 Crores in FY22 to Rs. 2,243.28 Crores in FY 23, accompanied by increasing profits of Rs. 20.5 Crores to Rs. 26.03 Crores.
It has reported a return on equity (ROE) of 1.47 percent and a return on capital employed (ROCE) of 6.63 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the Promoters of the company hold 58.70 percent stake, the Foreign Institutional Investors (FII) hold 2.30 percent and the Domestic Institutional Investors hold 6.14 percent.
Texmaco Rail & Engineering Limited is an engineering infrastructure company, involved in the business of manufacturing Rolling stock, hydro-mechanical equipment, steel castings & construction of Rail EPC, bridges, and other steel structures.
Written by: Bharath K.S
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