Titagarh Rail Systems stock slides after its plant in Barrackpore catches fire

Titagarh Rail Systems Share Price: Titagarh Rail Systems slid by one per cent on BSE on Monday (January 29, 2024) in the first trading session after its plant in Titagarh, Barrackpore, West Bengal, caught fire.

The stock of the company ended the trading session on Monday lower by 1.44 per cent, or Rs 16.05, at Rs 1096.80 on Monday.

Titagarh Rail Systems informed on Saturday that its plant in Titagarh had caught fire but there was no casualty reported. 

"Pursuant to the captioned Regulation, this is to inform you that on January 27, 2024 at around 1.45 PM, fire occurred at the Company’s plant situated at R K Deo Path, Titagarh, Barrackpore, West Bengal. The fire was controlled within a short time, thanks to the prompt support and cooperation of the Fire Department, local authorities and employees. There were no human injuries or casualties and operations were not required to be suspended," said the company in a statement.

It said that it was in the process of ascertaining the cause of fire and the loss caused by it.

There is adequate insurance for the said plant and necessary intimation to the insurance company has been made, Titagarh Rail Systems said.