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Texmaco Rail & Engineering Ltd, which is in the process of merging with Kalindee Rail Nirman (Engineers) Ltd, has decided to raise ₹300 crore for expansion and diversification. The board of the Adventz group company took the decision to raise funds through equity issue.
The wagon maker reported a net loss of ₹7.84 crore against a net profit of ₹11.37 crore. The company suffered losses due to absence of the Railways orders in the first quarter. The Texmaco Rail scrip finished at ₹91.65, down 2.81 per cent, on the BSE. Our Bureau
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