Shares of Texmaco Rail and Engineering Ltd jumped as much as 3.7% on Wednesday as the company has bagged a $67.7-million (nearly Rs 435 crore) contract from the Bangladesh Railway Ministry for the construction of a rail route between India and Bangladesh.
The company said in a BSE filing: “It has been awarded a contract, valuing $67.7 million, by the Ministry of Railway, Bangladesh Government.”
Following a positive open at Rs Rs 116.95 against the previous close of Rs 115.70, the stock touched an intraday high of Rs 120 and a low of Rs 114.35.
The company shares ended up by 0.35 per cent at Rs 116.10 on the BSE. On the NSE, the stock closed higher by 0.47 per cent at Rs 116.45.
The company said the contract is for the construction of 45-km dual gauge railway line, including railway stations buildings, level crossing gates and a Customs house building through North Eastern Border area in Maulavibazar district of Bangladesh adjoining Karimganj of Assam.
“The rail route is expected to enhance trade and passenger transportation between the two countries by opening a new Customs checkpost. The line segment is planned to be constructed within 18 months by the EPC Division — Kalindee Rail Nirman of the company,” it added.
(With inputs from PTI)