Hot Stocks: Railway Wans and Forging company form joint venture to accelerate delivery of Rs 12,256.50 crore project from Ministry of Railways!
This JVC was formed to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the Atmanirbhar Bharat Initiative by the Ministry of Railways, Government of India.
Titagarh Rail Systems Limited (formerly known as Titagarh Wagons Limited) (TRSL) along with Ramkrishna Forgings Limited (RKFL) and Ramkrishna Titagarh Rail Wheels Limited (RTRWL) forms a joint venture company (JVC) have signed shareholders agreement. The shares holding of TRSL and RKFL in RTRWL joint venture company is equal i.e., 50 per cent each.
This JVC was formed to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the Atmanirbhar Bharat Initiative by the 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.
The wheels manufactured under this agreement will cater to the requirements of multiple platforms, such as the LHB coaches, WAG9 Locomotives, Vande Bharat Express Trains, etc. The RKFL-TRSL consortium will be establishing a state-of-the-art manufacturing facility to manufacture these forged wheels, with total annual production targeted at 2,00,000 wheels when fully operational.
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On Thursday, shares of Ramkrishna Forgings surged 1.46 per cent to Rs 557.45 per share with an intraday high of Rs 560 and an intraday low of Rs 543.35. The stock gave multibagger returns of 112 per cent in just 6 months and over 200 per cent in 1 year.
While shares of Titagarh Rail Systems Limited plunged 1.21 per cent to Rs 645.30 per share with an intraday high of Rs 659.20 and an intraday low of Rs 636.70. The stock gave multibagger returns of 230 per cent in just 6 months and over 400 per cent in 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.