Italian arm of Titagarh Wagons wins order; stock up 6 per cent

The Italian arm of Titagarh Wagons, Titagarh Firema S.P.A has been awarded an LoA of Euro 216 million. The shares of the company reached an intraday high of almost 6 per cent.

The company’s arm, Titagarh Firema has been awarded the Letter of Acceptance (LoA) for the design, manufacture and supply of 54 units of Metro from Ferrovia Circumetnea, Italy. The total value of the order stands at Rs 1,740.60 crore which is approximately Euro 216 million.

Titagarh Wagons is engaged in the manufacturing and selling of railway wagons, steel castings, heavy earth moving and mining equipment, bailey bridges, electric multiple unit (EMU) and non-ferrous metal alloys, among others. It operates through two business segments: Wagons & Coaches, and Others. The company is also engaged in finance, hire purchase and leasing, and ship building, ship breaking, shipping, marine engineering, naval architecture and ocean engineering.

On Monday, the stock of Titagarh Wagons opened at Rs. 55.80 per share. At closing hours, the shares were trading at Rs. 58.70 per share, gaining 5.20 per cent. The stock's intraday high was Rs. 60.85 and the intraday low was Rs. 55.15 per share on the BSE. Its 52-week high was Rs. 135 and 52-week low was Rs. 55.15 per share on the BSE. Meanwhile, Sensex was at 35.498.44, down by 0.87 per cent at the closing bell.