The shares of this small-cap company gained up to 11.6 percent after the company came into a strategic partnership with ABB India Ltd to supply propulsion systems.
With a market capitalization of Rs 12,811.85 crores, Titagarh Rail System Ltd. On Tuesday, the shares were trading at Rs 1,001.50 a share, an increase of 6.99 percent from the previous close price.
Titagrah Rail System Ltd. and ABB India Ltd. have reportedly formed a strategic partnership for Indian metro projects, per the company filing. The alliance, which supports the Indian government’s “Make in India” and “Atmanirbhar Bharat” (self-reliant India) programs, has already shown early success by securing contracts to develop and provide the necessary equipment for the state of Gujarat’s metro coaches.
When it comes to the design, production, and maintenance of propulsion systems and electrical equipment for rolling stock used in railroad and metro systems, ABB is a global leader. Through a strategic partnership, the two businesses will be able to capitalize on their combined strengths and establish themselves as major players in the Indian market as well as grow their customer base to include other projects and nations.
Looking into the company’s finances, Titagrah Rail System Ltd.’s revenue increased by 54.07 percent from Rs 607.12 Crore in Q2FY23 to 935.45 Crore in Q2FY24. During the same period, net profits increased by 106 percent from Rs 34.28 crore to Rs 70.89 crore.
The stock has delivered a multi-bagger return of 115.42 percent in six months and 115.42 percent in a year. As a result, if an investor bought Rs 1 lakh shares in the company, their shares are now worth Rs 2.15 lakhs in a year.
Titagrah Rail System Ltd’s recent shareholding pattern, The Promoters of the company owns 44.97 percent while Retail shareholders own a 27.72 percent stake in the company and Foreign Institutional Investors own a 16.85 percent stake.
Titagarh Rail Systems Ltd includes the production and distribution of freight wagons, passenger coaches, metro trains, train electricals, steel castings, ships, specialized equipment, and bridges.
Written by:- Abhishek Singh
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