Vishal Malkan, CMT at malkansview.com told CNBC-TV18, "Texmaco Rail is completely into a downtrend and I think the damage has been done. As of now if you see in last couple of months it is getting into an accumulation phase between Rs 27 and Rs 30-32 levels, so I guess there can be some upside to this in the next couple of months maybe up to Rs 40-45 levels.”
On September 23, 2013 Texmaco Rail and Engineering closed at Rs 29.15, down Rs 0.15, or 0.51 percent.
The share touched its 52-week high Rs 74.00 and 52-week low Rs 26.05 on 07 January, 2013 and 05 August, 2013, respectively.
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