Titagarh rises on getting nod to raise Rs 288.80 crore through preferential allotment
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Titagarh Railsystems is currently trading at Rs. 421.50, up by 5.15 points or 1.24% from its previous closing of Rs. 416.35 on the BSE.
The scrip opened at Rs. 417.65 and has touched a high and low of Rs. 430.00 and Rs. 417.65 respectively. So far 62152 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 430.00 on 13-Jun-2023 and a 52 week low of Rs. 93.35 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 430.00 and Rs. 381.05 respectively. The current market cap of the company is Rs. 5041.71 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 an approval from the board for a proposal to raise Rs 288.80 crore through preferential allotment of shares to Smallcap World Fund Inc. Following the completion of the share allotment, the investor will hold roughly 5.98 per cent stake of the wagon maker.
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.
