Overflowing orderbook bolsters Texmaco

DALAL STREET SPIKES

Texmaco spurted on order win. The stock hit a 10 per cent upper circuit in Wednesday's trading on buying interest to close at an all time high of Rs 254.30. More than 43,704 shares changed hands at the counter on BSE on Wednesday.

The company announced that it had secured orders worth Rs 40 crore for sugar mills and boilers and orders worth Rs 30 crore from the Indian Railways. The stock surged ahead of the announcement. From a recent low of Rs 188.10 on January 20, the stock has jumped 35.1 per cent to Wednesday's close of Rs 254.30.

The company for the quarter ended December 2004 recorded a net profit of Rs 5.94 crore as compared to a net profit of Rs 17.26 crore in the same quarter last year.

Texmaco makes railway wagons for carrying goods, hydro-mechanical equipment for hydel projects, heavy engineering machinery for shipbuilding and bridge construction, and industrial boilers and machinery used in the oil and fertiliser industry.