Shares of Texmaco Rail & Engineering Ltd rose 1.88 per cent in Friday’s trade. At this price, the stock traded just 1.03 per cent away from its all-time high of Rs 188.95, a level seen on December 15, 2023. The multibagger counter has zoomed 361.84 per cent from its 52-week low price of Rs 40.49, hit on March 29 last year.
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On BSE, around 1.32 lakh shares were seen changing hands hands today at the time of writing this story. The figure was lower than the two-week average volume of 3.01 lakh shares. Turnover on the counter stood at Rs 2.44 crore, commanding a market capitalisation (m-cap) of Rs 7,066.84 crore.
The company has recently recieved an order from the Ministry of Railways to manufacture and supply 3,400 BOXNS wagons valued at Rs 1,374.41 crore.
In an interation with Business Today TV, Mayuresh Joshi, Head-Equity Research at William O’Neil India, said, “One should currently consider looking at Texmaco Rail shares on declines. There has been a huge amount of balance sheet resurrection this financial year. With more orders coming in, better margins and good executions, it is expected that the balance sheet will strengthen further in couple of years.”
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Brijesh Ail, Head Technical & Derivatives at IDBI Capital, said, “The stock may see Rs 200 level in the near term. Stop loss would be at Rs 185.”
Bourses BSE and NSE have put the securities of Texmaco Rail under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
The counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-, 200-day simple moving averages (SMAs). The counter’s 14-day relative strength index (RSI) came at 67.24. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company‘s stock has a price-to-equity (P/E) ratio of 107.99 against a price-to-book (P/B) value of 5.11.
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The scrip has a one-year beta of 0.5, indicating low volatility.
As on November 24, 2023, promoters held 50.16 per cent stake in the company.
