In response to the Defense Ministry's order for Rs 170 crore, Titagarh Rail's share grows by 8%

In response to the Defense Ministry's order for Rs 170 crore, Titagarh Rail's share grows by 8%

January 20, 2024, and February 23, 2023, respectively, were the 52-week high and low points for the stock, which were Rs 1,249.00 and Rs 203.00, respectively.

The Defense Ministry placed an order worth Rs 170 crore with Titagarh Rail Systems, which caused its share price to soar 8% in early trading on February 19. Titagarh Rail Systems was up Rs 76.30, or 7.98%, on the BSE at 09:26. It was trading at Rs 1,032.80.

The Ministry of Defence, Government of India, has placed an order for the purchase of 250 special wagons. According to the company's press release, the contract's execution is expected to start 12 months after it is signed and be finished in 36 months. stated inside.

The firm and Amber Group inked a deal in January 2024 for the company to access the Indian and international railway component and subsystem markets.

In accordance with the agreement, TRSL and Amber Group would get equal ownership over the SPV for establishing the new railway components business as well as a new equity investment of Rs 120 crore via its wholly owned subsidiary Sidwal Refrigeration Industries Pvt Ltd. Will make a maximum investment. Italy's Firma

The firm reported third-quarter net profit of Rs 75 crore, up 130 percent year over year.

During the same quarter, operating revenue rose 24.6% year over year to Rs 954.7 crore in Q3FY24.

January 20, 2024, and February 23, 2023, respectively, were the 52-week high and low points for the stock, which were Rs 1,249.00 and Rs 203.00, respectively.

The stock is now trading 408.77 percent above its 52-week low and 17.31 percent below its 52-week high.