Titagarh Shares Gain Close To 14% On Bagging Single Largest Ever Order From Railways

Shares of small cap company Titagarh Wagons in trade on May 25, 2022 gained by a sharp of close to 14% to day's high price of Rs. 116.3 apiece on the NSE.

This is after the company, engaged in the manufacturing and selling of railway wagons, steel castings, heavy earth moving and mining equipment, bailey bridges and electric multiple unit (EMU), among others, informed of bagging the largest ever single order from Indian Railways.

The company in a filing said, has received the letter of acceptance for an order for manufacture and supply of 24,177 Wagons from Indian Railways consisting of 19,854 BCNA Wagons and 4,323 BOXNHL Wagons. The total value of the contract is INR 7,838 crore plus taxes. The order is required to be executed over a period of thirty-nine months. This is the single largest Orderthe Company has secured since its incorporation in July, 1997 and it further consolidates the Group's position as the leader in Wagon manufacturing in India. The order recetvedby the Company is about 32% of the total order finalised by the Indian Railways thereby reaffirming the leadership position of the Company in Wagon manufacturing in the Country, While the Company possesses the necessary infrastructure and capacity to supply the Wagons against this order, and is further augmenting its facilities to oplimise production costs and efficiencies. With the bagging of this contract, the Company's total order book stands at Rs.10,645 crore with this order and is the highest ever order book value on stand-alone basis in the history of the Company.