Rs 36,226.50 crore orders: This railways wagon company inks 2 contracts with BHEL and RKFL; stock hits 52-week high!
The stock gave multibagger returns of 320 per cent in just 1 year whereas BSE small-cap Index is up by 33 per cent.
On Friday, shares of Titagarh Rail Systems Ltd surged 4.40 per cent to make a high of Rs 434.50 per share. At the closing bell, shares of the company ended the day in green, up 2.16 per cent to Rs 425.20 per share. The shares of the company saw a spurt in volume by more than 1.68 times on BSE.
Contract No-1: A consortium led by Bharat Heavy Electricals Limited (BHEL) and Titagarh Rail Systems Limited (TRSL) signed a contract for the manufacturing and supply of 80 fully assembled Vande Bharat sleeper train sets by 2029 and their maintenance for 35 years. This is the first time Indian Railways has awarded a contract of this value to an Indian consortium to design and manufacture complete train sets and maintenance for 35 years. The estimated value of the contract is Rs 24,000 crore (excluding GST).
Contract No-2: A consortium between Ramkrishna Forgings Limited (RKFL) and Titagarh Rail Systems Limited (TRSL), has been awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the AatmaNirbhar Bharat Initiative by Ministry of Railways, Government of India. The contract will see the consortium delivering 40,000 forged wheels during the first year, 60,000 wheels in the second year and 80,000 wheels every subsequent year thereafter, with the total contract valued at Rs 12,226.50 crore.
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Titagarh Rail Systems Ltd also known as Titagarh Wagons Ltd, a leading automobile company in India mainly manufactures and sells freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment & bridges, ships, etc.
The stock gave multibagger returns of 320 per cent in just 1 year whereas BSE small-cap Index is up by 33 per cent. Do you own this railways wagon stock in your portfolio?