RICOAUTO Chugs into Railways: A New Growth Track! 🚂
Big news from Rico Auto Industries (NSE: RICOAUTO)! The company, last seen trading at ₹73.65, is making a strategic move that could open up exciting new avenues for growth. They’ve just announced the establishment of a brand-new business vertical dedicated entirely to the Railways sector! 🛤️
This isn’t just a small step; it’s a significant diversification. Rico Auto will now be manufacturing high-quality cast and machined components specifically designed for Tracks, Wagons, and Carriages. Think of all the intricate parts that keep our trains running smoothly – Rico Auto is stepping in to produce them.
The best part? Production is already underway! The company will be leveraging its existing Dharuhera facility for this new venture, and supplies for some components have already commenced. This means they’re not just planning; they’re executing! 🚀
For a company primarily known for its automotive components, venturing into the railway sector is a smart play. It diversifies their revenue streams and taps into a massive, growing infrastructure market. This move positions Rico Auto to capitalize on the ongoing modernization and expansion of railway networks.
It’s an exciting time for Rico Auto as they lay down new tracks for future growth. Keep an eye on how this new railway vertical contributes to their journey ahead!
source: Corporate Announcement
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