Titagarh Rail Systems Ltd inks contract with Gujarat Metro Rail Corporation Ltd

Titagarh Rail Systems Ltd (TRSL), formerly known as Titagarh Wagons Limited, today signed a contract for Design, Manufacture, Supply, Testing, Commissioning and Training of 72 standard gauge cars for the Surat Metro Rail Phase I Project.

The order value for this project is approximately INR 857 crores. The execution of the contract is slated to commence 76 weeks after the signing the contract and is expected to be completed in 132 weeks thereafter. The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of INR 12,020 crores.

Senior management at TRSL conveyed that: "We are proud to announce that these state-of-the-art metro cars will be manufactured at our cutting-edge facility in Utarpara, located in the Hooghly district of West Bengal, India. TRSL has decided to expand its capacities at a capex of about Rs. 650 crore in the next couple of years, a large sum of which is already invested and bearing fruit. Titagarh has already received Leter of Acceptance for 30 nos. of standard gauge cars for the Phase II of the Ahmedabad Metro Rail Project. This demonstrates the capability of TRSL in Metro Rail space and affirms the Company's prominent position in both the freight rail and passenger rail systems industry in India."

Shares of Titagarh Wagons Limited was last trading in BSE at Rs. 779.35 as compared to the previous close of Rs. 791.70. The total number of shares traded during the day was 38350 in over 2049 trades.

The stock hit an intraday high of Rs. 806.50 and intraday low of 773.20. The net turnover during the day was Rs. 30031161.00.

Source : Equity Bulls

Keywords

TitagarhRailSystems INE615H01020 OrderWin SuratMetroRail Phase1