Titagarh Rail Systems Ltd, a midcap company in the railway industry, recently hit a 52-week high on the stock market. In addition, the company received a Letter of Acceptance (LOA) from the Gujarat Metro Rail Corporation (GMRC), worth Rs 857 crore. The LOA is for the design, manufacture, supply, testing, commissioning, and training of 72 standard gauge cars for Surat Metro Rail Phase-I.
The news was announced by Titagarh Rail Systems in a filing to the stock exchange on June 27, 2023. The company stated that the project is scheduled to begin 76 weeks after signing the contract and is expected to be completed within 132 weeks thereafter.
The stock price of Titagarh Rail Systems has been on an upward trend, reaching a new 52-week high of Rs 529.20 per share on June 28, 2023. The stock is currently trading at Rs 508.70 apiece, showing a 0.62% increase. Over the past week, the stock has rallied by 8.46%, and over the past two weeks, it has jumped by 22.12%. In the last month, the stock has seen a 46.84% surge, and in the past three months, it has soared by 113.61%. In the past year, the stock has given investors a multibagger return of 401.97%, and in the last three years, it has delivered an impressive multibagger return of 1336.44%. Over the past five years, the stock has generated a positive return of 447.66%.
Titagarh Rail Systems is engaged in the manufacturing and selling of various rail-related products, including freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialized equipment and bridges, and ships. The company caters to both domestic and export markets and currently has a market capitalization of Rs 6082.58 crore.
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