Shares of Texmaco Rail and Engineering Ltd skyrocketed 10% and hit a 52-week high of Rs 188.80 on 15 December after the company announced securing an order worth Rs 1,374.41 crore from the Ministry of Railways.

In its regulatory filing, the company said that it had received a letter of acceptance from the rail ministry to manufacture and supply 3,400 BOXNS wagons for a total consideration of Rs 1,374.41 crore.

In November, the company raised Rs 744 crore through a Qualified Institutional Placement (QIP).

In October, the company’s joint venture with SS Fabricators and Manufacturers secured an order from SJVN Arun-3 Power Development Company Limited for building a 900-megawatt run-of-the-river hydropower project in Nepal for an order value of Rs 179.89 crore.

In its quarterly report for July-September, the company reported a 66% year-on-year increase in its consolidated net profit to Rs 25 crore during the quarter from Rs 15 crore reported in the same quarter last year.

The company is in the business of manufacturing rolling stock that includes coaches, wagons, loco shells and parts, EMUs, hydro-mechanical equipment, steel castings, bridges, rail EPC, and other steel structures.

At 11:34 am, the shares of Texmaco Rail and Engineering were trading 5.13% higher at Rs 179.40 on NSE.