Shares of Titagarh Wagons rose 12 percent in the early trade on May 25 after the company received a single largest order ever from the Indian Railways for 24,177 wagons valued at over Rs 7,800 crore.
Titagarh Wagons has received the letter of acceptance for an order for manufacture and supply of 24,177 wagons from Indian Railways consisting of 19,854 BCNA Wagons and 4,323 BOXNHL Wagons, company said in a stock exchange filing.
The total value of the contract is Rs 7,838 crore plus taxes. The order is required to be executed over a period of thirty-nine months.
Catch all the market action on our live blogThis is the single largest order the company has secured since its incorporation in July, 1997 and it further consolidates the Group’s position as the leader in Wagon manufacturing in India.
The order received by the company is about 32 percent of the total order finalised by the Indian Railways thereby reaffirming the leadership position of the Company in Wagon manufacturing in the Country, it added.
With the bagging of this contract, the company’s total order book stands at Rs 10,645 crore and is the highest ever order book value on stand-alone basis in the history of the company.
“Titagarh is also trying to develop an export market for both the freight wagons and transit train business. International certification and application for accreditation of services have already been completed for wider acceptance of its products globally, said Umesh Chowdhary, Vice Chairman & Managing Director of Titagarh Wagons.
A meeting of the board of directors of the company is scheduled to be held on Monday, the May 30, 2022 to consider and approve audited financial results (standalone & consolidated) for the quarter and year ended March 31, 2022.
At 09:17 hrs Titagarh Wagons was quoting at Rs 110.95, up Rs 8.55, or 8.35 percent on the BSE.
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