BHEL, Titagarh Rail Systems shares in focus today; here's why

Shares of Bharat Heavy Electricals Limited (BHEL) and Titagarh Rail Systems Ltd are in news today after the two firms inked an agreement for the long-term maintenance of Vande Bharat sleeper trainsets, marking an important milestone in the consortium. BHEL shares ended 4% lower at Rs 414 on BSE in the previous session. Market cap of the firm stood at Rs  1.44 lakh crore.

Titagarh Rail Systems stock too closed 4% lower at Rs 811.55. Market cap of the firm slipped to Rs 10,929 crore.

The objective of the agreement is to undertake the long-term maintenance of 80 Vande Bharat sleeper train sets under a Rs 24,000 crore Indian Railways project.

The agreement, inked on September 15, 2026, provides for the incorporation of a joint venture company with TRSL and BHEL holding an equal 50% stake each.

The joint venture (JV) will undertake comprehensive maintenance of the 80 Vande Bharat sleeper trainsets for 35 years. The maintenance mandate is part of the larger Indian Railways contract awarded to the TRSL-BHEL consortium for manufacturing and supplying the trainsets, along with the upgradation of government manufacturing units and trainset depots.

The development strengthens TRSL and BHEL's long-term participation in Indian Railways' Vande Bharat sleeper train programme, with the maintenance contract providing visibility over a multi-decade period.

Umesh Chowdhary, Vice Chairman & Managing Director, Titagarh Rail Systems said, "The signing of this long-term maintenance agreement is an important milestone in Titagarh’s journey and further strengthens our association with the Vande Bharat programme. At Titagarh, our commitment goes beyond designing and manufacturing modern rolling stock we believe in supporting our customers and our products throughout their operational lifecycle. This 35-year maintenance commitment reflects the trust placed in our people, capabilities and processes, and also demonstrates our readiness to provide long-term lifecycle support across our rolling stock programmes. Together with BHEL, we remain committed to contributing to India’s vision of modern, efficient and self-reliant passenger rail transportation through Vande Bharat, designed and made in India, for a Viksit Bharat.”