Titagarh Rail Systems gains on getting LoA from GMRC
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Titagarh Rail Systems is currently trading at Rs. 511.50, up by 5.95 points or 1.18% from its previous closing of Rs. 505.55 on the BSE.
The scrip opened at Rs. 520.85 and has touched a high and low of Rs. 529.20 and Rs. 511.30 respectively. So far 97256 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 529.20 on 28-Jun-2023 and a 52 week low of Rs. 98.30 on 28-Jun-2022.
Last one week high and low of the scrip stood at Rs. 529.20 and Rs. 465.00 respectively. The current market cap of the company is Rs. 6151.33 crore.
The promoters holding in the company stood at 47.83%, while Institutions and Non-Institutions held 12.68% and 39.50% respectively.
Titagarh Rail Systems has received Letter of Acceptance (LoA) dated June 27, 2023 from the Gujrat Metro Rail Corporation (GMRC) for Design, Manufacture, Supply, Testing, Commissioning and Training of 72 nos. of Standard Gauge Cars for Surat Metro Rail Phase-I Project I. The order value is about Rs 857 crore and execution would start 76 weeks after signing the contract and is scheduled to be completed in 132 weeks thereafter.
Titagarh Rail Systems is formerly known as Titagarh Wagons. The Company is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Steel Castings, Specialised Equipments & Bridges, Ships, Heavy Earthmoving and Mining Equipments, etc.
