Curated By: Business Desk
Last Updated: February 19, 2024, 18:18 IST
Titagarh Rail Systems shares have gained over 359 per cent within the final one 12 months.
In a strategic transfer final month, Titagarh Rail Systems partnered with Delhi’s Amber Group to enterprise into the railway element and sub-system enterprise.
Titagarh Rail Systems closed greater than 3 per cent greater on Monday after the corporate introduced about receiving an order price Rs 170 crore from the Defence Ministry. In a submitting to the inventory exchanges, the corporate mentioned that it has acquired the order from the Defence Ministry for manufacturing and supplying 250 specialised wagons.
The execution of the order is slated to begin 12 months after signing the contract and anticipated to be fulfilled inside 36 months, the corporate knowledgeable the exchanges.
After the announcement, the inventory gained as a lot as 8.47 per cent to hit an intraday excessive of Rs 1,037.55 apiece on BSE from its closing worth of Rs 956.5 per share on Friday. The inventory closed 3.24 per cent greater at Rs 987.45 apiece on BSE.
Titagarh Rail Systems Limited witnessed a pointy rise in web revenue through the third quarter of the monetary 12 months 2023–24, recording a 91.3 per cent improve at Rs 75.03 crore in comparison with Rs 39.22 crore in the identical quarter of the previous monetary 12 months.
In a strategic transfer final month, Titagarh Rail Systems partnered with Delhi’s Amber Group to enterprise into the railway element and sub-system enterprise. This collaboration is aimed toward strengthening the businesses’ presence within the European market, signalling progress alternatives.
Titagarh Rail Systems has turned out to be a multibagger inventory with returns of greater than 350% within the final one 12 months. The inventory has surged 359 per cent within the final one 12 months and an enormous 1874 per cent within the final three years.
As traders navigate the dynamic inventory market panorama, Titagarh Rail Systems emerges as a promising funding alternative, pushed by substantial contracts and strategic collaborations, providing the potential for important returns. The firm is the most important non-public sector producer of wagons and a number one participant within the passenger coaches section. Titagarh Rail Systems manufactures and provides railway wagons, passenger and freight rolling inventory, parts and metro coaches.
