Titagarh Rail soars over 5% after wagon manufacturer gets Rs 170 cr order from defence ministry

Titagarh Rail Share Price: Titagarh Rail soared over five per cent on BSE on Monday (February 19, 2024) after the wagon manufacturer received an order worth Rs 170 crore from the defence ministry. 

The stock was trading up by 5.58 per cent, or Rs 53.40, at Rs 1009.90 at 9:59 am on Monday after the company got the order for the procurement of specialised wagons.

Titagrh Rail closed at Rs 956.50 on Friday. The stock opened the trading session at Rs 1022.75 on Monday to reach the day's high of Rs 1037.55 and hit the day's low at Rs 1002.00. 

Titagarh Rail's 52-week high is Rs 1249.00, while its 52-week low is Rs 203.00.

What is Titagarh Rail's order?

Titagarh said on Saturday that it had received an order from the Ministry of Defence, Government of India, for the procurement of 250 specialised wagons.

"The order value is approximately INR 170 Crore. Execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months," said the company.