Hot Pursuit
Texmaco Rail & Engineering rose 1.80% to Rs 143.95 after the company entered into a strategic memorandum of understanding (MoU) with Nevomo to develop AI-driven rail technologies, focusing on Magrail, linear propulsion, and driverless systems.
This pioneering agreement heralds a new era of rail infrastructure innovation, high-speed rail solutions, AI-powered predictive diagnostics, self-propelled wagons, and driverless freight trains to revolutionize mobility in India and on the global stage.
Leveraging Texmaco's extensive manufacturing capabilities and Nevomo's technological prowess, the collaboration aspires to bolster rail network efficiency, expand capacity, and modernize existing railway & port systems, along with quantum efficiency improvements in mines, captive rail, & logistics setup.
Texmaco Rail and Nevomo plan to introduce advanced rail solutions to international markets, positioning themselves at the forefront of next-generation railway innovations.
Sudipta Mukherjee, Managing Director of Texmaco Rail & Engineering, said, 'This partnership signifies a new era for the Indian and global rail industry. By integrating Nevomo's breakthrough Magrail technology with Texmaco's engineering and manufacturing capabilities, we aim to introduce cutting-edge rail solutions that will revolutionize freight and passenger mobility.
AI-driven diagnostics, autonomous self-propelled systems, and sustainable rail solutions will reshape the industry and set new benchmarks for efficiency and safety. It can work in existing capacity and network to significantly improve efficiency, which is green & cost-efficient. We are hopeful that existing ports, mines, and rail logistics hubs can be extensively augmented with minimum Capex to boost multiple throughputs.'
Harj Dhaliwal, chief business & capital program officer, Nevomo, added, 'We are thrilled to partner with Texmaco to bring Magrail technology to India and beyond. By integrating advanced technology in ports, logistics hubs, and the Indian railway network, we can enhance connectivity, efficiency, and capacity'aligning with the vision of the India-Middle East, East-Europe Economic Corridor.
This collaboration represents a major step in modernizing rail and port infrastructure, accelerating economic growth, and strengthening its access to global markets. At Nevomo, we are committed to driving innovation with AI-driven diagnostics and autonomous freight wagons, paving the way for the future of sustainable rail transport and supporting India's industrial ambitions.'
Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, pressure vessels, etc.
The company's consolidated net profit soared 151.6% to Rs 76.72 crore on a 47.9% increase in revenue from operations to Rs 1,326.14 crore in Q3 FY25.
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