Titagarh Rail shares rise 3% in afternoon trade, here's why

Shares of Titagarh Rail Systems Ltd rose over 3% in afternoon session after the firm said it has launched the first indigenous 25T Bollard Pull Tug built at its facility in Titagarh, Barrackpore, for the Indian Navy. The 25T Bollard Pull Tug was launched at 4:00 AM at the Shipyard in Titagarh, West Bengal, in alignment with the odes that facilitate deployment of the Tug in the water.

The railway stock rose to a high of Rs 1084 gaining 3.39% on January 15, 2024. Market cap of the firm stood at Rs 14,566 crore. Total 0.56 lakh shares of the firm changed hands amounting to a turnover of Rs 3.83 crore. Titagarh Rail stock has clocked multibagger returns of 387% in a year and zoomed 101% in six months.  

It fell to a 52-week low of Rs 194.80 on February 6, 2023 and rose to a record high of Rs 1110 on December 20, 2023. It has a one-year beta of 0.6, indicating very low volatility during the period.     

In terms of technicals, the relative strength index (RSI) of the stock stands at 58, signaling it's trading neither in overbought nor in the oversold zone. Titagarh Rail Systems shares are trading higher than the 5 day, 10 day, 20 day, 30 day , 50 day, 100 day, 150 day and 200 day moving averages.      

“We are proud and honoured to be serving the Indian Navy’s critical requirement of 25T Bollard Pull Tug through indigenously produced state-of-the-art Tugs pivotal to carrying out a wide range of naval operations. We look forward to catering to the nation’s needs in strengthening its defence capabilities,” said Umesh Chowdhary, Vice-Chairman and Managing Director, Titagarh Rail.

Titagarh Rail Systems logged a 46.5% rise in net profit to Rs 70.6 crore in Q2 against a net profit of Rs 48.2 crore in the September 2022 quarter. Total revenue climbed 54.1% to Rs 935.5 crore in Q2 against Rs 607.1 crore in the corresponding period of the preceding fiscal. Earnings per share rose to Rs 5.56 in the September 2023 quarter against Rs 3 in the September 2022 quarter.     

Profit before tax zoomed 112% to Rs 94.39 crore in the September quarter against Rs 44.45 crore in the September 2022 quarter.    

About the Company             

Titagarh Rail Systems is engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment and bridges, and ships. The company operates through three segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence.   

 

 

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