Shares of Titagarh Rail Systems (TRSL) hit a new high of Rs 529.20 as they rallied 5 per cent on the BSE in Wednesday’s intra-day trade after the company announced that it has received Letter of Acceptance (LoA) for order value of about Rs 857 crore from Gujarat Metro Rail Corporation (GMRC).
The LoA is for design, manufacture, supply, testing, commissioning, and training of 72 numbers of standard gauge cars for Surat Metro Rail Phase-I Project I. The order value is about Rs 857 crore, and execution would start 76 weeks after signing the contract. It is scheduled to be completed in 132 weeks thereafter, TRSL said in an exchange filing.
TRSL offers mobility solution to billions, with its prominent presence in both Passenger and Freight Rolling Stock. TRSL is the largest private sector manufacturer of Wagons, and an established player in the railway coaches (EMUs, MEMUs) sector.
TRSL recently received the largest-ever order for Wagons from Indian Railways, and is currently also executing the order for 104 Metro Coaches for the Pune Metro. While TRSL is India’s undisputed leader in the wagon manufacturing space, it is also among India’s very few integrated manufacturers of passenger rail systems.
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Meanwhile, thus far in calendar year 2023, the stock price of TRSL has zoomed 136 per cent as compared to 4 per cent rise in the S&P BSE Sensex. During the calendar year, 2022, TRSL had surged 140 per cent.