Titagarh Rail shares in news today as firm inks Rs 857-crore contract with Gujarat Metro Rail

Shares of multibagger Titagarh Rail Systems Ltd are in news today after the firm inked a contract 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 nearly Rs 857 crore. Shares of Titagarh Rail Systems ended 1.12% lower at Rs 770.65 on Tuesday against the previous close of Rs 779.35 on BSE. Total 0.32 lakh shares of the firm changed hands amounting to a turnover of Rs 2.45 crore. Market cap of the firm fell to Rs 9,800 crore.  

In the last one year, the Titagarh Rail Systems stock has surged 417%. The stock has rallied 239% in 2023. It hit a 52 week low of Rs 146 on October 3, 2022 and a 52 week high of Rs 866.70 on September 4, 2023.  

The execution of the contract is set to start 76 weeks after signing the contract and is expected to be completed in 132 weeks thereafter. The Surat Metro Rail Project comprises two corridors spanning a total of 40.45 kilometres with 38 stations at an estimated cost of Rs 12,020 crore.  

In terms of technicals, the relative strength index (RSI) of the stock stands at 52.1, signaling it's trading neither in the overbought nor in the oversold zone. Titagarh Rail Systems shares are trading higher than the 50 day, 100 day, 150 day and 200 day but lower than the 5 day, 10 day, 20 day  and 30 day moving averages.       

Nine promoters held 44.97 per cent stake in the firm and 141553 public shareholders owned 55.03 per cent or 6.99 crore shares as on July 7, 2023. Of these, 1.37 lakh resident individuals held 2.68 crore shares or 21.14% stake with capital up to Rs 2 lakh. Only 11 resident individuals with 3.71% stake held capital above Rs 2 lakh as on July 7, 2023.      

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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