Railway Stock Rallies 347% In 1-Yr: Bags Order Worth 170 Cr From Defence Ministry

Mid cap stock operating in railway wagons industry, Titagarh Rail Systems on February 17 informed via its BSE filing about receiving an order worth Rs 170 crore from Ministry of Defence. Last trading price of Titagarh Rail Systems shares on BSE is Rs 956.50 apiece with intraday gain of 0.76%.

Titagarh Rail Systems shares offered attractive returns to its shareholders in last few years. Titagarh Rail Systems stock zoomed 878% in last 2-years and 42% in last 6-months. Check details below:

Titagarh Rail Systems Bags Order From Defence Ministry: As per the BSE filing of the company dated February 17, 2024, "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 an order from the Ministry of Defence, Government of India for Procurement of 250 Specialized Wagons. The order value is approximately INR 170 Crore. Execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months."

Titagarh Rail Systems Shares Performance & Return: The 52-week high price of Titagarh Rail Systems shares on BSE is Rs 1249.00 apiece and 52-week low price is Rs 203.00 apiece, respectively. The company has a market capitalisation of Rs 12,881.55 crore. Titagarh Rail Systems shares declined 11% in last 1-month, gained 14% in last 3-months, offered return of 347% in last 1-year, and rallied 1748% in last 3-years.

Titagarh Rail Systems Financials: The company for the quarter ended December 31, 2023 declared a surge in its net profit. Its consolidated net profit zoomed 129.9% YoY to Rs 74.8 crore for the quarter December as against Rs 32.6 crore in the corresponding quarter of last year. Revenue from operations zoomed 24.6% to Rs 954.7 crore for the October to December quarter as compared to Rs 766.4 crore in the preceding fiscal.

EBITDA jumped 52.3% to Rs 110.7 crore as compared to Rs 72.7 crore in the similar quarter of last year.

Titagarh Rail Systems About: Titagarh stretches its global reach and presence through factories in India and Italy. It caters to passenger rolling stock including trains and metros as well. Its product range expands to include electric propulsion equipment such as traction motors and vehicle control systems. Titagarh also designs and manufactures wagons such as container flats, grain hoppers, cement wagons, clinker wagons, and tank wagons, according to its official website.

Disclaimer: The stock just highlights the defence order, rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.