On Wednesday’s first half session, Titagarh Rail Systems Ltd shares rose 4.6 percent to Rs 528.75 apiece and reached a 52-week high price. The stock price jumped after the firm received an order from Gujarat Metro project.
According to the exchange filing, Gujarat Metro Rail Corporation (GMRC) Limited awarded the Company a contract of Rs 857 crore for the design, manufacture, supply, testing, commissioning, and training of 72 standard gauge cars for the Surat Metro Rail Phase-I Project.
The project’s execution will begin 76 weeks after the contract is signed and to be completed within 132 weeks. At 12:25 pm, the stock was trading at Rs 509 on the NSE, up 0.73 percent from its previous close.
The company’s share has delivered multibagger returns of 400 percent in a year and 138 percent in six months. If a shareholder had invested Rs 1 lakh in the company that would be worth Rs 5 lakhs in a year and Rs 2.38 lakhs in six months.
Titagarh Wagons Ltd. is engaged in the manufacturing of railway wagons, naval ships for the armed forces, defence hardware, and mining equipment. The company has its presence in domestic and international markets.
BHEL, India’s largest engineering and manufacturing enterprise, inked consortium agreements with Titagarh Waggons Ltd in February 2023 for an order of Rs 72,000 crore for the production and commissioning of Vande Bharat trains.
According to the company’s financial statement, Operating revenue climbed by 103 percent to Rs 974 crore in Q4FY23 compared to the same quarter the prior year. In the same way, net profit increased by 304 percent to Rs 51 crore.
Revenue increased 44 percent year over year, from Rs 1,930 crore in FY 21–22 to Rs 2,779 crore in FY 22–23. The same time period saw a 22900 percent increase in net profit, from Rs 0.6 crore to Rs 138 crore.
As per the shareholding pattern of FY 22-23, promoters own 47.83 percent of the company, while domestic institutional investors and Foreign institutional investors hold 6 percent each..
Written by Omkar C
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