Stock below 100: This railway stock surged more than 6 per cent to reach closer to its 52-week high. Do you own it?

The total order book of the company is close to Rs 9300 crore.

On Wednesday, shares of Texmaco Rail & Engineering Ltd surged 6.45 per cent to close at Rs 55.3. Heavy buying interest was seen in this counter as the spurt in volume was more than 6 times. On an intraday basis, the stock opened at Rs 52.9 and zoomed all the way to Rs 57.65.

In Q2FY23, the company reported revenue of Rs 497 crore, up by 31 per cent from the corresponding quarter last year of Rs 379 crore. The EBITDA level grew by 25 per cent from the previous quarter ended to reach 55.21 crore. Subsequently, the company’s net profit grew by 131 per cent on a YoY basis to reach 5.85 crore.

In its recent earning call, the company stated that they are witnessing a very robust demand scenario where they are not only getting orders from the railway, which is one of the largest orders they received but also getting a large number of orders from the private segment or non-rail segment. The total order book of the company is close to Rs 9300 crore.

Texmaco Rail & Engineering Ltd is an engineering infrastructure company and part of the Adventz Group. The company is involved in the business of manufacturing rolling stock, hydro-mechanical equipment, steel castings & construction of Rail EPC, bridges and other steel structures.

The stock is currently rallying towards its 52-week high of Rs 58.9. Investors should keep this trending stock on their radar for upcoming sessions.