Contact Members/Sign Up Reg Form

Texmaco Rail Shares Down 12% from Peak: Consider Entry at Current Levels?

Texmaco Rail & Engineering Ltd saw its shares decline by 4.57% in Wednesday's trading session, hitting a day low of Rs 260. This marks a 12.06% drop from its recent record high of Rs 295.65, which was achieved just a few sessions earlier on July 8.

Despite the recent downturn, Texmaco Rail's stock has demonstrated remarkable growth, soaring more than 235% over the past year. Analysts have expressed mixed views on the stock amidst its strong upward momentum. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, remains optimistic about select railway stocks ahead of the upcoming Budget presentation. He suggests that investors with a longer-term horizon could consider adding Texmaco Rail to their portfolios, expecting moderate gains of 10-15% from current levels due to strong earnings visibility.

In contrast, Osho Krishan, Senior Research Analyst at Angel One, advises caution in the near term. He points out that while the stock has been in an uptrend with higher highs and higher lows, it is currently stretched. Krishan recommends a cautious approach, noting support levels near Rs 250 and highlighting Rs 300 as a significant resistance level.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel  

Texmaco Rail's stock is currently trading above various key moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs. The 14-day RSI stands at 64.40, indicating the stock is not yet in overbought territory but approaching it.

Financially, Texmaco Rail has a high price-to-earnings (P/E) ratio of 96.58 and a price-to-book (P/B) value of 4.38. The company reported earnings per share (EPS) of 2.82 with a return on equity (ROE) of 4.53.

Trading activity on Texmaco Rail's counter today showed a volume of 8.65 lakh shares on the BSE, slightly below the two-week average of 10.37 lakh shares. Sell orders outnumbered buy orders, with turnover amounting to Rs 23.45 crore and a market capitalization (m-cap) of Rs 10,861.52 crore.

Texmaco Rail & Engineering Ltd, headquartered in Kolkata, specializes in manufacturing railway wagons, coaches, and locomotives. As of March 2024, promoters hold a 48.14% stake in the company, down from 50.16% in the previous quarter.

The company continues to navigate market fluctuations amidst its strategic focus on expanding its railway infrastructure capabilities and managing investor expectations amidst volatile market conditions.

July 10, 2024 3:56 p.m. 365

#trending #latest #TexmacoRail #StockMarket #Investing #RailwayIndustry #FinancialAnalysis #MarketVolatility #EconomicOutlook #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai

UAE Condemns Ongoing Israeli Violations in Gaza Amid Escalating Tensions

uae news / uae-national
July 14, 2024 6 p.m. 511

The United Arab Emirates has strongly condemned and denounced ongoing Israeli violations in the Gaza Strip with utmost severity....Read More.

Sara Ali Khan Criticized for Not Crediting Pakistani Designer for Ambani Wedding Outfit

fashion / celebrity fashion
July 14, 2024 5:34 p.m. 402

Sara Ali Khan faces backlash for not crediting the Pakistani designer behind her stunning Ambani wedding ensemble, urging her to give due recognition....Read More.

UAE Condemns Ongoing Israeli Violations in Gaza Amid Escalating Tensions

The United Arab Emirates has strongly condemned and denounced ongoing Israeli violations in the Gaza Strip with utmost severity.

Sara Ali Khan Criticized for Not Crediting Pakistani Designer for Ambani Wedding Outfit

Sara Ali Khan faces backlash for not crediting the Pakistani designer behind her stunning Ambani wedding ensemble, urging her to give due recognition.

Zoologist Adam Britton Faces 249 Years in Jail for Raping, Killing Over 60 Dogs

According to ABC, zoologist Adam Britton tortured and killed over 60 dogs at his Darwin home, recording the acts of cruelty.

Jeff Bezos Applauds Trump's 'Grace and Courage' Amid Assassination Attempt

The 45th US President was grazed in the ear by a gunman during an assassination attempt at a campaign rally in Pennsylvania today.

Sheikh Hamdan and Sheikh Abdullah Named Deputy Prime Ministers

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the appointments on Sunday.

Elon Musk Reveals Two Assassination Attempts Endorses Trump Post Shooting

Elon Musk reveals incidents involving arrests of individuals with guns near Tesla's Texas headquarters

Riyadh Retail Space Set to Increase by 28% to 4.6M Sq M by 2026

As per Knight Frank's Summer 2024 Saudi Arabia Retail Market Overview,

Alec Baldwin Reacts Following Dismissal of Manslaughter Case

Alec Baldwin reacts to dismissal of manslaughter charges in 'Rust' shooting case

Sharjah Press Club Organises Takes Ithmaar Program Trainees to CNN Arabic, Arabian Radio Network

The Sharjah Press Club, part of the Sharjah Government Media Bureau, arranged field trips for participants in the 6th edition of the Ithmaar Program.

Venice Earns $2.2M from Day-Tripper Tax Pilot; Critics Say Visitor Deterrence Failed

Venice collects $2.2 million in day-tripper tax trial, but critics argue it did not deter visitors as intended.

Report: Hamas Pulls Out of Gaza Ceasefire Talks

The initial phase of the agreement involved a proposed six-week ceasefire and the exchange of the majority of hostages captured during Hamas's October 7 assault

Sonam Kapoor Stuns in ₹3.18 Lakh Striped Dress at Wimbledon Final

Sonam Kapoor and Anand Ahuja attended Wimbledon 2024 finale in standout fashion: Sonam in Bottega Veneta, Anand in chic minimal attire.

Heavy Rains and Storm Warnings in Kerala Orange Alert Issued

Kerala faces heavy rains; IMD issues orange alert for Kozhikode, Kannur, and Kasaragod.

RTA Launches Trial Operation of World's First 3D-Printed Abra in Dubai

Dubai's RTA has started trials for the world's first electric abra, created using 3D printing technology.

Trump Survives Assassination Attempt Amid Security Lapse at Rally

Donald Trump was shot in the ear during an assassination attempt at a campaign rally on Saturday, narrowly escaping.

Russia Sees Surge in Treason and Espionage Cases Amid Ukraine Conflict

Russians face treason charges for supporting Ukrainian causes amid the conflict.

Nita Ambani and Family Shine in Stunning Gold Ghagra Choli Ensemble

Nita Ambani posed in a rare and beautiful photo with Isha Ambani, Shloka Mehta, and newlywed Radhika Merchant, all dressed in stunning tissue gold ghagra cholis

Republicans Fault 'Biden's Rhetoric' Following Trump Assassination Attempt

Donald Trump thanked the Secret Service and law enforcement for their quick response but expressed disbelief that such an incident could happen in the country.

World Green Economy Summit Boosts UAE's Global Climate Efforts

The World Green Economy Summit strengthens UAE's global climate action efforts and strategizes responses to environmental changes.

Ganguly Defends Rohit Sharma Captaincy Choice Amid Criticism

After Virat Kohli's controversial departure, Rohit Sharma assumes captaincy across all three formats for Team India

Get In Touch

3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE

+971 56 450 3476

info@dxbnewsnetwork.com

LAUNCH OF DNN
Follow Us

© DNN. All Rights Reserved.