Titagarh Rail Systems soars on inking contract with Gujarat Metro Rail Corporation
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Titagarh Railsystems is currently trading at Rs. 791.15, up by 20.50 points or 2.66% from its previous closing of Rs. 770.65 on the BSE.
The scrip opened at Rs. 800.05 and has touched a high and low of Rs. 810.00 and Rs. 783.85 respectively. So far 111081 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 866.70 on 04-Sep-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. 818.00 and Rs. 761.50 respectively. The current market cap of the company is Rs. 9800.44 crore.
The promoters holding in the company stood at 47.82%, while Institutions and Non-Institutions held 16.74% and 35.44% respectively.
Titagarh Rail Systems (TRSL) has signed a contract with Gujarat Metro Rail Corporation (GMRC) for Design, Manufacture, Supply, Testing, Commissioning and Training of 72 standard gauge cars for the Surat Metro Rail Phase I Project.
The order value for this project is approximately Rs 857 crore. The execution of the contract is slated to commence 76 weeks after the signing the contract and is expected to be completed in 132 weeks thereafter. The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of Rs 12,020 crore.
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.
