Titagarh stock rises after wagon manufacturer signs Rs 857 crore deal with Surat Metro

Titagarh Rail Systems Share Price: Shares of Titagarh Rail Systems closed higher by 0.73 per cent, or Rs 5.65, at Rs 776.30 each on Wednesday (October 4, 2023), after the wagon manufacturer signed a Rs 857 crore contract with Surat Metro Rail Phase I Project for the design, manufacturing, supply, testing, commissioning, and training of 72 standard gauge cars.

Closing at Rs 770.65 on Tuesday, the stock of Titagarh Rail Systems started its journey on Wednesday at Rs 800.05 and reached the day's high of Rs 810.

In a statement on Tuesday, Titagarh Rail said, "The execution of the contract is slated to commence 76 weeks after signing the contract and is expected to be completed in 132 weeks thereafter. The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of Rs 12,020 crores.

What we know about Titagarh Rail Systems

• Titagarh Rail Systems is the country's largest private wagon manufacturing company. 
• It is an expert in making coaches for railways.
• It has its engineering infrastructure in Titagarh, West Bengal, and Bharatpur, Rajasthan
• The company has many subsidiaries in India and Europe
• Titagarhfirema S.p.A. Italian Proprietary
• The company is also dabbles in shipbuilding and engineering business