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Hindalco Industries Ltd
BSE Code 500440 ISIN Demat INE038A01020 Book Value (₹) 269.35 NSE Symbol HINDALCO Div & Yield % 0.45 Market Cap ( Cr.) 147,260.10 P/E * 47.52 EPS * 13.79 Face Value (₹) 1
* Profit to Earning Ratio
* Earning Per Share
Hindalco and Texmaco Rail enter into strategic alliance Back
(10 Aug 2023)

Hindalco Industries and Texmaco Rail & Engineering have entered into a strategic alliance to develop and manufacture world-class aluminium rail wagons and coaches that will help Indian Railways achieve its emission goals and bolster operating efficiency.

Indian Railways has launched "Mission 3000 MT” with a target of doubling freight capacity to reach 3,000 million tons by 2027 through augmentation of rolling stock, with the objective of achieving 45% market share in freight. To meet this ambitious target, the Railways is actively seeking to improve wagon design, and inviting wagon manufacturers to contribute their own designs to enhance overall capacity and the life of railway assets.

Recognizing these developments in the Railways, Hindalco and Texmaco have joined hands to explore opportunities, where Hindalco will provide profiles, sheets and plates of its unique aluminium alloys, along with fabrication and welding expertise. The company's in-house aluminium freight rake launched last year is 180 tons lighter and offers 19% higher payload to tare weight ratio, consumes less energy with relatively negligible wear and tear. Texmaco, being an expert in manufacturing freight cars for 80 years, will bring in technical expertise and be responsible for design, setting up the factory, production line and providing skilled workers.