Multibagger In 6 Months! Midcap Railway Stock Sets Record Date For 25% Final Dividend

Titagarh Rail Systems Limited (Formerly Titagarh Wagons Limited) has fixed the record date as Sept 22, 2023, for a final dividend of 25% i.e. Re 0.50 per equity share of Rs. 2 each, recommended on May 24, 2023.

The Board of Directors of the company also announced that the 26th Annual General Meeting (AGM) of the company will be held on Friday, Sept 29, 2023.

According to the Board of Directors of the company, "Register of Members and Share Transfer Books of the Company will remain closed from Saturday, 23rd September, 2023 to Friday, 29th September, 2023 (both days inclusive) for the purpose of AGM and dividend."

"The Company has fixed Friday, 22nd September, 2023 as the Cut-off date for the purpose of determining eligibility of shareholders to cast their votes by remote e-voting /e-voting at the AGM and also as the record date for payment of dividend for the financial year ended 31st March, 2023. The payment of dividend is subject to the approval of the Shareholders of the Company," the Board said in an exchange filing.

"Recommended final dividend at the rate of(25%) i.e. Re.0.50per equity share of Rs. 2/- each," the Board said in an exchange filing on May 24. 2023.

The shares of Titagarh Rail Systems closed on Monday at Rs 820.20 per share, up 1.71% from the previous close. The stock has fallen 1.57% in the past 1 week, however, it gained 23.38% in the last 1 month. It gave 224% multibagger return in 6 months. It gave 424.09% multibagger return in 1 year, 780.99% in 2 years, and 1,753.56% in 3 years, respectively. It gave 863.24% positive return in 5 years.

The stock hit 52-week high on Sept 04, 2023, at Rs 866.70 per share and 52-week low on Sept 28, 2022, at Rs 136.45 per share.

Titagarh Wagons Limited is a midcap Railway company mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets. It has a market cap of Rs 10,430.57 Crore.

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