1,600 per cent returns and FIIs & DIIs increase stake: This multibagger railway wagon stock bags Rs 1,909.04 crore from the Ministry of Railways!
Shares of the company grew by more than 90 per cent in the last one year.
Titagarh Rail Systems Limited secured a contract to manufacture 4,463 BOSM wagons for the Railway Board. This deal is worth Rs 1,909 crore, a significant win for the company. BOSM wagons are a type of freight wagon used in India. This contract strengthens Titagarh's position in the railway sector and contributes to India's rail infrastructure development.
The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 954.68 crore which increased by 24.57 per cent YoY. The operating profit of the company stood at Rs 125.14 crore, while the PAT of the company stood at Rs 75.03 crore, from a profit of Rs 39.23 crore last year in the same quarter.
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The shares of Titagarh Rail Systems Limited have also delivered multibagger returns to its shareholders in the last three years. During this period, the company's share price surged from Rs 51.80 on March 12, 2021, to Rs 898.60 on March 07, 2024, representing an increase of about 1,630 per cent in a three-year holding period.
Titagarh Rail Systems is engaged in the manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, and steel and SG iron castings of moderate to complex configuration. The company also manufactures products for the Indian defence establishment, such as special wagons, shelters, and other engineering equipment. The company has an order book of Rs 27,466 crore and FIIs and DIIs increased their stake in the company in December 2023 respectively.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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