In a remarkable feat, the shares of Titagarh Rail Systems, formerly known as Titagarh Wagon, reached an unprecedented milestone on Tuesday, June 20.
The company’s stock price soared to an all-time high of Rs 499.70 on the NSE during the day’s trading session.
This surge marks an astounding 400% increase in share price over the past year.
By the end of the trading day, Titagarh Rail Systems’ shares closed at Rs 481.95, registering a 3.11% gain.
Titagarh Rail Systems, a prominent train wagon manufacturer in the country, has recently secured two significant contracts, garnering substantial attention in the market.
One of these contracts, obtained by a consortium comprising Titagarh Rail Systems and Ramakrishna Forgings (RK Forgings),
involves the supply of 15.4 lakh forged wheels to the Ministry of Railways.
This long-term agreement spans 20 years, during which the consortium will deliver the specified number of wheels annually.
Initially, 40,000 wheels will be supplied in the first year, followed by 60,000 wheels in the second year, and subsequently 80,000 wheels each year.
The total value of the contract amounts to approximately Rs 12,226.5 crore.
In addition to this achievement, Titagarh Rail Systems, in collaboration with Bharat Heavy Electricals Limited, has secured another noteworthy contract.
This consortium has been entrusted by the Railways to manufacture 90 sets of Vande Bharat sleeper trains, with the project slated for completion by 2029.
The company disclosed the acquisition of these contracts through an exchange filing on June 15.
Titagarh Rail Systems’ shares have demonstrated remarkable growth, with a trading price of Rs 97.75 on NSE a year ago, which has now surged to Rs 482.
Consequently, investors have enjoyed substantial returns of around 400% in the past year.
Moreover, over the course of the last three years, the company’s shares have experienced a staggering surge of over 1,200%.
