Titagarh Wagons rallies on launching second research vessel

Titagarh Wagons has launched the second Research Vessel - Sagar Anveshika. With this launch, the company has become the only private shipyard to build and deliver complex vessels ahead of schedule. ‘Sagar Anveshika’ will house state-of-the-art laboratories equipped with modern scientific instruments.

In the next few months, Sagar Anveshika will undergo outfitting of accommodation areas as well as fitment of scientific instruments in the laboratories. The company aims to deliver the vessel to NIOT by December 2019, again almost 3 months ahead of schedule.

Titagarh Wagons is engaged in the manufacturing and selling of railway wagons, steel castings, heavy earth moving and mining equipment, bailey bridges, electric multiple unit (EMU) and non-ferrous metal alloys, among others. It operates through two business segments: Wagons & Coaches, and Others. The company is also engaged in finance, hire purchase and leasing, and ship building, ship breaking, shipping, marine engineering, naval architecture and ocean engineering.

Cheering this development, the stock of Titagarh Wagons jumped nearly 6 per cent and made an intraday high of Rs. 39.60 on the BSE. Its 52-week high is Rs. 92.00 and 52-week low is Rs. 31.30 apiece. At 11:36 hours, the stock is trading at Rs. 38.85, up by 2.27 per cent on the BSE.