Titagarh Rail, BHEL shares tank up to 5% despite update on Vande Bharat production line

Shares of Titagarh Rail Systems Ltd and Bharat Heavy Electricals Ltd (BHEL) fell up to 5 per cent in Friday's trade, even as the two companies announced the inauguration of the dedicated production line for the Vande Bharat
Sleeper Trains at former's manufacturing facility in Uttarpara, Kolkata, West Bengal. 

Shares of Titagarh Rail Systems were trading 5.26 per cent lower at Rs 769.40. BHEL fell 4.93 per cent to Rs 219.05. The broader market sentiment was weak. 

Titagarh Rail Systems has established a dedicated production line following the award of a contract by Indian Railways to design and manufacture 80 Vande Bharat Sleeper train sets. This project is being executed under a consortium between Titagarh Rail and BHEL.

Valued at approximately Rs 24,000 crore, including long-term maintenance over a 35-year period, the initiative stands as one of the most significant under the Prime Minister Narendra Modi's Make in India and Aatmanirbhar Bharat programs.

Titagarh Rail Systems suggested that the sleeper variant of the Vande Bharat will be India’s first long-distance, semi high-speed train, featuring a fully indigenous design. It promises enhanced passenger comfort, advanced safety features, a modern coach layout, intelligent onboard systems, and energy-efficient operations—marking a new benchmark in Indian railway innovation.

In the case of BHEL, the stock was down as a fire incident occurred on Thursday on a garbage heap located in an isolated area near Material Gate No 9, adjacent to the plantation area of BHEL’s Bhopal unit. 

"The situation was promptly attended to by the CISF fire team, with additional support from the municipal fire tenders and the State Disaster Response Fund (SDRF) team, who arrived swiftly on site. The fire was contained within the plantation area, and there was no damage to any machinery, plant or property. Additionally, no injuries or casualties have occurred," BHEL informed stock exchanges.

BHEL, as a precautionary measure, said it was monitoring and safety measures are being maintained by the fire team, and the area will continue to be observed to ensure complete safety.