Titagarh Rail stock rises 3% as firm starts exporting traction converters to Italy

Titagarh received the order from Firema, Italy to supply traction converters for the first batch of 11 trains to Regione Lazio Viterbo line, operating at 3 KV, and the Regione Lazio Lido line, operating at 1.5 KV. The company plans to ship two train sets, or eight converters, each month to complete the order.

Shares of Titagarh Rail Systems gained over 3 percent on July 24 after the firm said it had started the export of traction converters. The first batch of 8 converters was shipped to Titagarh Firema SpA (Titagarh Firema), Italy earlier this month on the 19th.

This export is part of a 7.18 million euros (Rs 65 crore) order received by Titagarh Rail from Titagarh Firema.

Titagarh Firema received an order from Regione Lazio, Italy, for the design, manufacture and supply of 38 trainsets for a total value of approximately EUR 276 Million, with a design speed of 100 kmph.

Titagarh received the order from Firema, Italy to supply traction converters for the first batch of 11 trains to the Regione Lazio Viterbo line, operating at 3 KV, and the Regione Lazio Lido line, operating at 1.5 KV.

The company plans to ship two train sets, or eight converters, each month to complete the order.

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Meanwhile, Titagarh Rail informed exchanges that a meeting of the Board of Directors of the company is scheduled to be held on July 30, to consider inter alia and approve financial results, both standalone and consolidated, for the fiscal first quarter (Q1FY25).

Titagarh Rail Systems is engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment and bridges, and ships.

The company operates through three segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence.

At 12:58 pm, Titagarh shares were trading 3.07 percent higher at Rs 1,636 on the National Stock Exchange (NSE). The market cap of the firm stood at over Rs 22,000 crore.

The multibagger stock has delivered a jaw-dropping 158% return over the past year, outshining Nifty's modest 23% gain. Over the last three years, the stock has skyrocketed by an astonishing 2,125 percent.

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