Last Updated: November 21, 2023, 12:32 IST
Titagarh Rail Systems Share Price: Shares of Titagarh Rail Systems hit a contemporary excessive of Rs 1,045 as they surged 12 per cent on the BSE in Tuesday’s intraday commerce on the again of heavy volumes, after the corporate and ABB shaped a strategic partnership to produce propulsion techniques for metro rolling inventory tasks in India.
Seen as a play on the capex upcyle in India and railways modernisation plan, the smallcap inventory has rallied over 500 per cent within the final one yr.
In the previous three buying and selling days, the inventory of the railway wagons firm has rallied 25 per cent. Further, to date within the present calendar yr 2023, the inventory has zoomed almost 370 per cent as in comparison with 7.7 per cent rise within the S&P BSE Sensex.
In an trade submitting, Titagarh Rail stated the partnership, aligned with the Indian authorities’s “Make in India” and “Atmanirbhar Bharat” (self-reliant India) initiatives, has already had an early success by successful orders to design and provide tools for metro coaches for the state of Gujarat.
The new partnership with ABB covers an settlement for Titagarh to buy ABB propulsion techniques together with traction converters, auxiliary converters, traction motors and TCMS software program.
It additionally contains securing the manufacturing rights and manufacturing license for traction motors together with the whole switch of expertise of the GoA 4 (Driverless metro) TCMS software program from ABB to Titagarh.
“We have already set up manufacturing facilities for some of the items for the propulsion chain and are in the process of making it a holistic solution. This agreement is a huge step towards developing in-house capabilities for our own TCMS, including driverless (Grade of Automation 4) TCMS, complete with the setup of a TCMS Laboratory and the development of the source codes, which is often referred to as the ‘brain of the train’ and is the most modern in the world,” stated Titagarh MD Umesh Chowd ..
Titagarh is the biggest personal sector producer of railway wagons and a longtime participant in passenger coaches. The firm has been awarded the biggest ever order for wagons by Indian Railways along with the orders for the manufacture and provide of Metro Trains for Pune, Bengaluru, Ahmedabad and Surat Metro tasks.
