Rs 24,000 crore order: Multibagger railways wagon company and Bharat Heavy Electricals Limited inks contract with Indian Railways; hits 52-week high!
The stock gave multibagger returns of 320 per cent in just 1 year whereas BSE small-cap Index is up by 33 per cent.
Titagarh Rail Systems Ltd also known as Titagarh Wagons Ltd, a leading automobile company in India announced a consortium led by Bharat Heavy Electricals Limited (BHEL) and Titagarh Rail Systems Limited (TRSL) signed a contract for manufacturing and supply of 80 fully assembled Vande Bharat sleeper train sets by 2029 and their maintenance for 35 years. This is the first time Indian Railways has awarded a contract of this value to an Indian consortium for design and manufacturing of complete train sets and maintenance for 35 years.
The estimated value of the contract is Rs 24,000 crore (excluding GST). The Vande Bharat trains represent a significant advancement for Indian Railways under the Make in India programme launched by the Government. The BHEL-TRSL consortium was the only AatmaNirbhar consortium that participated in the tender process, subsequently being awarded the project.
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On Friday, shares of Titagarh Wagons Ltd surged 4.40 per cent to make a high of Rs 434.50 per share. At the closing bell, shares of the company ended the day in green, up 2.16 per cent to Rs 425.20 per share. The shares of the company saw a spurt in volume by more than 2 times on BSE.
Titagarh Wagons Limited mainly manufactures and sells freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment & bridges, ships, etc.
The stock gave multibagger returns of 320 per cent in just 1 year whereas BSE small-cap Index is up by 33 per cent. Do you own this railways wagon stock in your portfolio?