Midcap Multibagger Stock Hit 52-Week High, Received Rs 857 Crore LOA From GMRC

Titagarh Rail Systems Ltd. has received a Letter of Acceptance (LOA) from the Gujarat Metro Rail Corporation (GMRC), the company informed the stock exchange in a filing on Jun 27, 2023. The LOA is for the design, manufacture, supply, testing, commissioning and training of 72 numbers of standard gauge cars for Surat Metro Rail Phase-I. The project has an estimated order value of Rs. 857 crore.

"Pursuant to Regulation 30 read with Schedule III Part A of the SEBI Listing Regulations, we wish to inform you that the Company has received Letter of Acceptance (LOA) dated 27th June, 2023 from the Gujarat Metro Rail Corporation (GMRC) Limited w.r.t. "Design, Manufacture, Supply, Testing, Commissioning and Training of 72 nos. of Standard Gauge Cars for Surat Metro Rail Phase-I Project I". The order value is about INR 857 crore and execution would start 76 weeks after signing the contract and is scheduled to be completed in 132 weeks thereafter," the company said in the stock exchange filing.

Stock Outlook

Meanwhile, the stock hit the new 52-week high on BSE at Rs 529.20 apiece on Jun 28, 2023, while the 52-week low hit on Jun 28, 2022, at Rs 98.30 apiece. The stock is currently trading 0.62% higher at Rs 508.70 apiece.

The stock rallied 8.46% in the past 1 week, and 22.12% in the past 2 weeks. In the past 1 month, it jumped 46.84% and in the past 3 months, it jumped 113.61%. The stock has given 401.97% multibagger return in the past 1 year. It gave 1336.44% multibagger return in 3 years. It gave 447.66% positive return in the past 5 years.

About - Titagarh Rail Systems Ltd.

Titagarh Rail Systems Ltd. is a midcap company operating in the Railway Wans industry. It is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised equipment & Bridges, Ships, etc. The company caters to both domestic and export markets. It has a market capitalisation of Rs 6082.58 crore.

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