Titagarh Rail Systems gains as its JV-SPV acquires 28.23% additional stake in Firema
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Titagarh Rail Systems is currently trading at Rs. 971.00, up by 10.35 points or 1.08% from its previous closing of Rs. 960.65 on the BSE.
The scrip opened at Rs. 969.30 and has touched a high and low of Rs. 971.80 and Rs. 941.85 respectively. So far 41015 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1249.00 on 20-Jan-2024 and a 52 week low of Rs. 203.00 on 23-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1037.55 and Rs. 935.85 respectively. The current market cap of the company is Rs. 13043.83 crore.
The promoters holding in the company stood at 42.46%, while Institutions and Non-Institutions held 32.32% and 25.21% respectively.
Titagarh Rail Systems’ (TRSL) JV-SPV -- Shivaliks Mercantile (Shivaliks) has acquired 28.23% additional stake in the equity share capital of Titagarh Firema S.p.A, Italy (Firema), an associate company of TRSL on February 21, 2024 for a consideration in cash aggregating Euro 20.21 million (equivalent to Rs 180.33 crore), to grow capabilities and capacities for various products in India and globally (Business). Following the aforesaid acquisition, the total shareholding of Shivaliks in Firema has gone up to 34.59%.
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.
