Titagarh Rail Systems surges on order win

Titagarh Rail Systems shares surged 5% and reached a 52-week high in the morning trade following the company's victory in securing an order worth Rs 857 crore.

The surge came after the company secured orders worth Rs 857 crore from the Gujarat Metro Rail Corporation for designing, manufacturing, supplying, testing, commissioning and training of 72 Standard Gauge Cars for Surat Metro Rail Phase-I Project I.

The order for Surat metro coaches would start 76 weeks after signing the contract and is scheduled to be completed in 132 weeks thereafter, the company said in an exchange filing.

The stock was trading at Rs 508.35, up nearly 1% on the BSE.

The stock of this company has delivered remarkable returns to investors, with a year-to-date (YTD) surge of 125% and a one-year rally of 403%. 

Further, the company is projected to achieve a turnover of Rs 90-100 billion over the next 5 years, benefiting from its manufacturing

Content Source: Media Reports