Multibagger Update: This small-cap company emerges as the Lowest Bidder (L1) for manufacturing and supply of 15,40,000 forged wheels!

The shares of company have given multibagger returns of 173 per cent in just 1 year.  

On Wednesday, the benchmark indices started the day on a positive note. BSE Sensex Index was up by 0.62 per cent at a level of 58,259.98. On the sectoral front, all the indices were trading in green with one of the gainers being the BSE Capital Goods Index, up 1.44 per cent at a level of 34,540.07.  

Today, both the Capital Goods companies informed that the consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited (RKFL-TWL Consortium) has emerged as the Lowest Bidder (L1) as per the financial bid opened on March 14, 2023, for manufacturing and supply of Forged Wheels under Aatma-Nirbhar Bharat initiative of the Ministry of Railways, Government of India. The total quantity of Forged Wheels to be supplied will be around 15,40,000 wheels over a period of 20 (twenty) years.  

Atmanirbhar Bharat, which translates to 'self-reliant India’ is a phrase the Prime Minister of India, Narendra Modi and his government used and popularised in relation to the country's economic development plans.  

About Titagarh Wagons Limited: Incorporated in 1997, the company is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The shares of company have given multibagger returns of 173 per cent in just 1 year.  

About Ramkrishna Forgings Ltd: The company is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. Today, shares of the company saw a spurt in volume by more than 2 times on BSE.  

Today, shares of Titagarh Wagons Limited surged 3.64 per cent to Rs 250.60 per share and shares of Ramkrishna Forgings Ltd surged 9.53 per cent to a new 52-week high of Rs 290.75 per share.   

Do you own any of these capital goods stocks in your portfolio?