Titagarh Wagons in 'green' signal

Titagarh Wagons has been having quite a tumultuous ride on the bourses for the past few days, with upper and lower circuits almost everyday. Today, it has not yet hit any circuit but it remains in the green, up 2.5% at Rs.288.25, with an intra day high at Rs.295.25. Its 52-week high, hit on 10th June is at Rs.312.55.

The stock is up today, reacting to the statement issued by the company today morning. The company’s foray into metro coach business has finally taken off, with the company getting a contract for rehabilitation of 56 coaches (7 rakes) from the Kolkata Metro Railway. No financial detail of this work has been revealed.

The company is currently in the process of completing an order from Indian Railways for 23 rakes of AC Electrical Multiple Units (EMU) and MEMU. The company is also hopeful of receiving orders from the Indian Railways, which under the new Govt is earmarked for a major revamp and growth.