Titagarh Wagons climbs ~5% on securing order worth ~Rs7,800 crore from Indian Railways

25 May 2022 , 09:44 AM

Titagarh Wagons Limited has received the letter of acceptance for an order for the manufacture and supply of 24,177 Wagons from Indian Railways consisting of 19,854 BCNA Wagons and 4,323 BOXNHL Wagons.

The total order value stands at Rs7,838 crore, excluding taxes. The company is required to execute orders over thirty-nine months.

This is the largest-ever order secured by the company since its incorporation in July 1997, which further consolidates the Group’s position as the leader in Wagon manufacturing in India.

This order received by the company is about 32% of the total orders Indian Railways has finalized, thereby securing the company’s leadership position in Wagon manufacturing in India.

The company is well equipped with the necessary infrastructure and capacity to supply the Wagons against this order, and is further augmenting its facilities to optimize production costs and efficiencies.

Post addition of this order, the company’s order book stands at Rs10,645 crore, being the highest-ever book value on a stand-alone basis in the history of the company.

Titagarh Wagons is currently trading at Rs107.80 up by Rs5.4 or 5.27% from its previous closing of Rs102.40 on the BSE. The scrip opened at Rs109.50 and has touched intraday high and low of Rs115.05 and Rs107.40 respectively.