Sunday, November 30, 2014

#Coal India to place order for 10.000 wagons shortly:AK Vijay, CFO, #Texmaco Rail & Engineering Ltd.

According to AK Vijay, CFO, Texmaco Rail & Engineering Ltd Coal India Ltd is likely to place order for 10.000 wagons shortly. Texmaco is likely to grab a large share of the order as county's largest wagon making company.In  order to clear the coal stock from the pithead the new wagon stock is needed.The government had allocated 2,400 wagons to the company in April 2014.The company has successfully completed a QIP of Rs.300 crore which was over-subscribed 2.83 times. Large MFs, institutional funds  have participated in the Texmaco QIP.The Company's current order book is at 1,200 cr and capacity utilisation at 62%, stated by AK Vijay, CFO, Texmaco in an TV interview.