Titagarh Rail shares hit 52-week high Rs 857-crore Gujarat Metro project

The order value is about Rs 857 crore.

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Titagarh Rail Systems share price touched a 52-week high of Rs 529.20, rising nearly 5 percent in early trade on June 28 after the company bagged a contract from Gujarat Metro Rail Corporation.

Titagarh Rail Systems has received the letter of acceptance (LOA) from Gujarat Metro Rail Corporation (GMRC) for design, manufacture, supply, testing, commissioning and training of 72 standard-gauge cars for Surat Metro Rail Phase-I project I. The order value is about Rs 857 crore.

The execution would start 76 weeks after signing the contract and is scheduled to be completed in 132 weeks thereafter.

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On June 15, a consortium between Ramkrishna Forgings Limited (RKFL) and Titagarh Rail Systems Limited (TRSL), was awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the Aatma Nirbhar Bharat Initiative by the railway ministry.

The contract will see the consortium delivering 40,000 forged wheels during the first year, 60,000 in the second year and 80,000 every subsequent year thereafter, with the total contract valued at Rs 12,226.5 crore.

At 9:39am, Titagarh Rail Systems was quoting at Rs 513.95, up Rs 8.40, or 1.66 percent, on the BSE.