Titagarh Rail Systems Inks Contract Worth Rs 857 Cr With Gujarat Metro Rail Corporation

Titagarh Rail Systems Ltd (TRSL), formerly known as Titagarh Wagons Limited, on Tuesday, Oct 03, 2023, inks a contract with Gujarat Metro Rail Corporation Limited (GMRC). The estimated order value for this project stands at Rs 857 crore.

The contract is for the Manufacture, Supply, Testing, Commissioning, and Training of 72 standard gauge cars for the first phase of Surat Metro Rail for Design.

The company in filing stated, "The execution of the contract is slated to commence 76 weeks after the signing the contract and is expected to be completed in 132 weeks thereafter. The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of INR 12,020 crores."

Senior management at TRSL conveyed that: "We are proud to announce that these state-of-the-art metro cars will be manufactured at our cutting-edge facility in Utarpara, located in the Hooghly district of West Bengal, India. TRSL has decided to expand its capacities at a capex of about Rs. 650 crore in the next couple of years, a large sum of which is already invested and bearing fruit. Titagarh has already received Letter of Acceptance for 30 nos. of standard gauge cars for the Phase II of the Ahmedabad Metro Rail Project. This demonstrates the capability of TRSL in Metro Rail space and affirms the Company's prominent position in both the freight rail and passenger rail systems industry in India."

Stock Overview

Meanwhile, the stock price of TRSL on Wednesday closed 0.73% higher at Rs 776.30 apiece on the BSE. It declined 2.24% in 1 week. It has given 50.83% in 3 months and 180.56% in 6 months, respectively,

It gained 400.03% multibagger return in 1 year, and 1,589.45% in 3 years, respectively. It gained 988.78% in 5 years. Its 52-week price is Rs 866.70 apiece and 52-week low price is Rs 148.30 apiece. It has a market cap of Rs 9,872.29 Crore.

About - Titagarh Rail System Ltd. (TRSL)

Titagarh Rail Systems Limited (TRSL) offers mobility solution to billions with its prominent presence in both the Passenger and Freight Rail Systems including railway wagons, components, passenger coaches (EMU/MEMU) and Metro Coaches. TRSL is the largest private sector manufacturer of railway wagons and an established player in passenger coaches.