Titagarh Wagons gains on emerging L1 for Pune Metro order

The consortium of Titagarh Wagons and its subsidiary Titagarh Firema SpA has emerged as the lowest bidder for the Maha-Metro, Pune project. The company has bid for manufacture of 102 metro coaches for the Pune Metro Rail project.

Titagarh Wagon had acquired a 90 per cent stake in Italian rail equipment firm Firema Trasporti in 2015, which now operates as Titagarh Firema SPA. The company specialise in design and manufacture of rolling stock. For this order, the consortium will manufacture aluminium-bodied metro cars in India.

Upon receiving the order the consortium will design, manufacture, supply, test, commission Passenger Rolling Stock (Electrical Multiple Units) and train personnels operating the Pune Metro Rail. The first 3 car Prototype Metro Trainset are to be supplied in 78 weeks and the remaining 33 trainsets in phases over a period of 160 weeks.

The approximate value of the order is Rs. 1,125 crore, the formal order is expected in the next few days.

Reacting to this positive development, the stock of Titagarh Wagons was buzzing on the bourses on Friday. The stock opened at Rs. 42.90 per share and was trading at Rs. 41.95 per share, up by 2.07 per cent on BSE at 10:57 hours.