Texmaco Infra joins the party in railway stocks, up 15% in a day
Over the past month after Suresh Prabhu became the Union railway minister, rail stocks have shot up by 35-40%. Texmaco Rail, too, has increased by 37%.
By ET Bureau |
Texmaco Infra & Holdings, the holding company of Texmaco Rail, gained 15% on Wednesday.
The company holds 30.04% stake in Texmaco Rail, the largest private wagon manufacturer in the country. Traders are betting on Texmaco Infra since it has underperformed Texmaco Rail.
Over the past month after Suresh Prabhu became the Union railway minister, rail stocks have shot up by 35-40%. Texmaco Rail, too, has increased by 37%. However, its holding company, Texmaco Infra, has gained just over 20%-15% of the gain recorded on Wednesday.
Texmaco Infra, a KK Birla Group company, has cash and equivalents of Rs 50 crore. It also holds shares of Zuari Agro and Zuari Global, which together are worth Rs 900 crore (See table). In comparison, Texmaco Infra’s market capitalisation is Rs 650 crore. In addition, it has three real estate projects in Delhi spread over 62 acres, which it is developing with Delhi Development Authority (DDA). It also has a 144-acre logistics hub in Kolkata. The total value of the Delhi and Kolkata properties is estimated to be over 1,500 crore.
The company holds 30.04% stake in Texmaco Rail, the largest private wagon manufacturer in the country. Traders are betting on Texmaco Infra since it has underperformed Texmaco Rail.
Over the past month after Suresh Prabhu became the Union railway minister, rail stocks have shot up by 35-40%. Texmaco Rail, too, has increased by 37%. However, its holding company, Texmaco Infra, has gained just over 20%-15% of the gain recorded on Wednesday.
Texmaco Infra, a KK Birla Group company, has cash and equivalents of Rs 50 crore. It also holds shares of Zuari Agro and Zuari Global, which together are worth Rs 900 crore (See table). In comparison, Texmaco Infra’s market capitalisation is Rs 650 crore. In addition, it has three real estate projects in Delhi spread over 62 acres, which it is developing with Delhi Development Authority (DDA). It also has a 144-acre logistics hub in Kolkata. The total value of the Delhi and Kolkata properties is estimated to be over 1,500 crore.
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