Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Texmaco Rail & Engineering Limited ( (IN:TEXRAIL) ) just unveiled an update.
Texmaco Rail & Engineering Limited has announced that its wholly owned subsidiary, Panihati Engineering Udyog Private Limited, will cease to be a subsidiary following a fresh equity issue to new investors from the promoter group. The Board has approved the issuance of 31,500 new equity shares of Rs 10 each in Panihati Engineering Udyog, amounting to Rs 3.15 lakh, which will dilute Texmaco’s ownership once these shares are acquired and is expected to complete within a month; given that Panihati contributed no income and a negligible net worth of Rs 0.01 crore in the last financial year, the move suggests a minor financial impact but signals a rationalisation of Texmaco’s corporate structure and capital allocation across group entities.
More about Texmaco Rail & Engineering Limited
Texmaco Rail & Engineering Limited operates in the rail and engineering sector, focusing on manufacturing and services for railway and allied infrastructure. The company manages a portfolio of subsidiaries and related entities that support its broader presence in rail equipment, engineering solutions and industrial operations in India.
Average Trading Volume: 89,412
Technical Sentiment Signal: Hold
Current Market Cap: 52.63B INR
Find detailed analytics on TEXRAIL stock on TipRanks’ Stock Analysis page.