Kalindee Rail Nirman gains 7% on Rs 197 crore order win

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Moneycontrol BureauShares of Kalindee Rail Nirman (Engineers) rose 7 percent intraday Monday on order win worth Rs 197 crore from Dedicated Freight Corridor Corporation of India."Kalindee Rail Nirman (Engineers), a subsidiary of Texmaco Rail & Engineering, has secured a prestigious order worth Rs 197 crores from Dedicated Freight Corridor Corporation of India for design, supply and construction of track & track related works for Eastern dedicated freight corridor," company said in BSE release."This order is an important milestone to the company’s railway track construction expertise, matching global standards," it added.The company's board meeting will be held on January 30 to consider the fixation of record date for issuance and allotment of equity shares of Texmaco Rail to the shareholders of the company pursuant to the Scheme of Amalgamation between Texmaco and the company and their respective shareholders and creditors.At 09:25 hrs Kalindee Rail Nirman (Engineers) was quoting at Rs 118.75, up Rs 3.65, or 3.17 percent on the BSE.Posted by Rakesh Patil