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Texmaco Rail & Engineering shares rose more than 3% in Thursday's trade after the company announced a landmark strategic partnership with Touax Group and TrinityRail Global, Inc. to establish Touax Texmaco Railcar Leasing Pvt. Ltd. (TTRL), a new platform aimed at transforming India's ₹3 lakh crore freight rail ecosystem.
The stock opened at ₹103.00 against its previous close of ₹102.85 and climbed to an intraday high of ₹106.98. As of 10:35 AM, the counter remained in focus with strong trading activity, while volume crossed 20.36 lakh shares.
The newly announced joint venture brings together three major players from India, Europe, and North America. Under the arrangement, TrinityRail, a subsidiary of Trinity Industries, Inc., will hold a 32% stake in the partnership. The venture has been designed to strengthen TTRL's position in India's rapidly growing freight rail market by combining Touax's railcar leasing expertise, TrinityRail's advanced rail technology capabilities, and Texmaco Rail's manufacturing strength and market presence.
According to the company, the partnership represents a significant step toward creating a globally benchmarked railcar leasing platform in India. The integrated platform will combine manufacturing, leasing, financing, and railcar technology under one ecosystem, enabling customers to access modern rolling stock solutions with improved operational efficiency.
Saroj Kumar Poddar, Chairman of Texmaco Rail & Engineering Limited, described the partnership as a defining moment for India's freight rail ecosystem. He said the collaboration leverages the complementary strengths of all three partners to build a scalable and resilient platform capable of supporting the country's growing freight transportation needs.
The venture is expected to introduce advanced wagon designs, improve asset utilization, reduce maintenance costs, and provide access to global capital and competitive financing solutions. Industry observers believe these advantages could help accelerate the modernization of India's freight rail infrastructure while improving the economics of rail transportation.
The announcement comes at a time when India is aiming to increase rail's share of freight movement from 27% to 45%, creating substantial demand for freight wagons and related services. The partners expect the platform to play an important role in supporting this transition through professional leasing solutions, lifecycle management expertise, and innovative railcar technologies.
Jean Savage, CEO and President of Trinity Industries, Inc., said India represents a compelling long-term opportunity for rail freight growth. She noted that TrinityRail will contribute advanced wagon designs, lease finance experience, and lifecycle management capabilities through the partnership with Texmaco and Touax.
The collaboration will also support domestic manufacturing through Texmaco's production network, aligning with the government's Atmanirbhar Bharat initiative and strengthening local value creation within the rail sector.
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