Titagarh Rail shares climb 8% on Rs 1,909-crore order win; check details

Shares of Titagarh Rail Systems Ltd rose nearly 8% in early deals on Monday after the company said it has won an order from the Railway Board for manufacture and supply of 4,463 BOSM Wagons for a value of Rs 1,909.04 crore.

The railway stock rose to a high of Rs 968.20, gaining 7.67% on March 11, 2024. Market cap of the firm stood at Rs 12,293 crore. Total 1.07 lakh shares of the firm changed hands amounting to a turnover of Rs 10.03 crore. Titagarh Rail stock has clocked multibagger returns of 261% in a year and zoomed 11.56% in six months. 

The stock hit a 52-week low of Rs 231.75 on March 20, 2023 and rose to a record high of Rs 1249 on January 20, 2024. It has a one-year beta of 0.7, indicating very low volatility during the period.    

In terms of technicals, the relative strength index (RSI) of the stock stands at 34.1, signaling it's trading neither in overbought nor in the oversold zone. Titagarh Rail Systems shares are trading lower than the 10 day, 20 day, 30 day , 50 day, 100 day but higher than the 150 day and 200 day moving averages.     

Titagarh Rail Systems logged a 91.3% rise in net profit to Rs 75.03 crore in Q3 against a net profit of Rs 39.22 crore in the December 2022 quarter. Net revenues during the third quarter increased to Rs 954.68 crore from Rs 766.4 crore in the year-ago period.

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.