Titagarh Rail shares in focus today as firm wins order for supply of 250 wagons

Shares of Titagarh Rail Systems Ltd are in news today as the company said it has won an order from the defence ministry for the procurement of 250 specialized wagons. The order value is Rs 170 crore. Execution of the contract will start 12 months after the signing of contract. The duration of completion of contract is 36 months thereafter.

The railway stock ended 0.76% higher at Rs 956.50 on February 16, 2024. Market cap of the firm stood at Rs 12,881 crore. Total 1.07 lakh shares of the firm changed hands amounting to a turnover of Rs 10.18 crore. Titagarh Rail stock has clocked multibagger returns of 347% in a year and zoomed 42% in six months. 

The stock fell to a 52-week low of Rs 203 on February 23, 2023 and rose to a record high of Rs 1249 on January 20, 2024. The scrip 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 38.7, signaling it's trading neither in overbought nor in the oversold zone. Titagarh Rail Systems shares are trading higher than the 5 day, 100 day, 150 day and 200 day  but lower than the 10 day, 20 day, 30 day , 50 day moving averages.     

Titagarh Rail Systems logged a 91% 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. Total revenue climbed to Rs 954.68 crore in Q3 against Rs 766.4 crore in the corresponding period of the preceding fiscal.

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

"The company's robust performance in Q3 FY24 is a reflection of our sustained operational momentum. On a year-over-year basis, the freight rolling stocks/passenger rolling stocks recorded substantial growth. The government's unwavering emphasis on the building of world-class rail infrastructure in India makes us enthusiastic about higher and sustained growth in the upcoming quarters," Titagarh Rail Systems Vice Chairman and Managing Director Umesh Chowdhary said.

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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