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Titagarh Rail Systems shares rose 3% on bagging ₹430-crore order
Titagarh Rail Systems shares advanced 2.7 per cent in trade on Monday, logging an intraday high at ₹961.8 per share on BSE. At 11:02 AM, Titagarh Rail share price was trading 1.05 per cent higher at ₹945.85 per share on the BSE. In comparison, the BSE Sensex was down 0.34 per cent at 83,776.17. Its 52-week high was at ₹1,880.2 per share and 52-week low was at ₹655.3 per share.
In one year, Titagarh Rail shares have lost 49 per cent as compared to Sensex's rise of 6 per cent.
Why are Titagarh shares in demand?
The buying interest on the counter came after a consortium of Titagarh Rail Systems and Titagarh Firema S.p.A, associate company, won an order worth ₹430.53 crore from Maharashtra Metro Rail Corporation.
Under the contract, both companies will jointly supply 12 additional trainsets. The consortium will be responsible to design, manufacture, supply, test, and commission the passenger Rolling Stock (Electrical Multiple Units) and Training of Personnel for Pune Metro Rail Project.
The execution is scheduled to be completed within 30 months
"We wish to inform you that the Consortium of Titagarh Rail System Limited and Titagarh Firema S.p.A, associate company, has received Letter of Approval for 'Supply of 12 additional trainsets as quantity variation under clause A.6 of Contract No: P1/RS-01/2018: Design, Manufacture, Supply, Testing, and Commissioning of passenger Rolling Stock (Electrical Multiple Units) and Training of Personnel for Pune Metro Rail Project' from Maharashtra Metro Rail Corporation Limited. The order value is about ₹430.53 crore," the filing read.
Titagarh Rail Systems Q4 results
The company's profit dropped year-on-year (Y-o-Y) to ₹64.45 crore in Q4FY25, from ₹78.95 crore in Q4FY24.
Titagarh Rail's revenue also fell 5.5 per cent Y-o-Y to ₹1,005.57 crore, from ₹1,052.41 crore in the same quarter last year.
In its Q4 review, Antique Broking had said that Titagarh Rail Systems delivered sub-par performance reporting 5 per cent/
10 per cent/ 6 per cent Y-o-Y decline in revenue/ Ebitda/ PAT respectively.
Ebitda refers to Earnings before interest, tax, depreciation and amortisation and PAT refers to profit after tax.
It added:The subdued execution was on account of weaker than estimated execution in the FRS segment, which was primarily impacted by inadequate supply of wheel sets from the rail wheel factory, delaying delivery schedule.
The brokerage retained 'Buy' rating on the stock with a revised target of ₹1,095 per share from ₹1,217.
Post Q4 results, Nuvama Institutional Equities also maintained a 'Buy' rating with a revised target of ₹1,292 per share from ₹1,197.
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