Titagarh Wagons (TWL) share price was trading in the green in the morning session on March 3 after the company emerged as the second lowest bidder for Vande Bharat trains.
Titagarh Wagons in a stock exchange filing said that the TWL-BHEL consortium has emerged as the second-lowest bidder for “manufacturing cum maintenance of Vande Bharat trainsets, including up-gradation of the government manufacturing units and trainset depot”.
The Russian CJSC Transmashholding-RVNL consortium is the lowest bidder for 200 Vande Bharat trains. Officials have said that the BHEL and Titagarh Wagons consortium will be given a chance to match the lowest bid to bag a share of the tender, according to a PTI report.
BHEL-Titagarh Wagons had quoted Rs 140 crore a train set, while the lowest bid is Rs 120 crore per trainset.
“As per the financial bid opening dated March 1, 2023, the TWL-BHEL consortium has been declared L2. The total quantity is 200 trainsets and as per tender conditions, L2 is eligible to get 80 trainsets. The quote of L1 bidder is Rs 120 crores per trainset,” TWL said in an exchange filing.
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A PTI report quoted sources as saying that the consortium of TMH and Indian public sector unit RVNL has bid Rs 120 crore per train set, which is less than the cost of the last Vande Bharat trains manufactured by ICF-Chennai at Rs 128 crore a set.
At 09:38 hours, Titagarh Wagons was quoting at Rs 222.70, up Rs 1.85, or 0.84 percent on BSE. It has touched an intraday high of Rs 225.00 and an intraday low of Rs 220.20.
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