Titagarh Rail Systems gains on launching second Diving Support Craft for Indian Navy
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Titagarh Railsystems is currently trading at Rs. 745.05, up by 3.40 points or 0.46% from its previous closing of Rs. 741.65 on the BSE.
The scrip opened at Rs. 749.85 and has touched a high and low of Rs. 763.05 and Rs. 743.30 respectively. So far 33385 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 867.00 on 18-Oct-2023 and a 52 week low of Rs. 148.30 on 02-Nov-2022.
Last one week high and low of the scrip stood at Rs. 799.85 and Rs. 703.80 respectively. The current market cap of the company is Rs. 9572.80 crore.
The promoters holding in the company stood at 44.97%, while Institutions and Non-Institutions held 27.31% and 27.72% respectively.
Titagarh Rail Systems (TRSL) has launched the second indigenous Diving Support Craft (DSC) built at its facility in Titagarh, Barrackpore, for the Indian Navy. Diving Support Crafts are catamaran type vessels, with required main and auxiliary equipment sourced from indigenous manufacturers. Under the Make in India initiatives of the Ministry of Defence, TRSL is building five such DSCs for the Indian Navy. The first DSC was launched in August 2023.
Fitted with the latest diving equipment, the DSCs will meet the mission needs of Command Clearance Diving Teams (CCDTs) that are involved in providing diving assistance to all ships inside and close to harbour for underwater repair, maintenance, and salvage. These ships will also serve as the ideal platform for conducting training of the Indian Navy’s diving cadre.
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.
