Titagarh Rail Systems surges 8% on order win

Titagarh Rail share price witnessed an 8% increase in early trade on February 19 following the company’s acquisition of an order worth Rs 170 crore from the Defence Ministry. At 09:26 hrs, Titagarh Rail Systems was quoted at Rs 1,032.80, marking a rise of Rs 76.30, or 7.98%, on the BSE.

According to reports, the company has received an order from the Ministry of Defence, Government of India for procurement of 250 specialized wagons. The execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months.

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As of 9:42 am, the shares continued to trade 7.21% higher at ₹1,026.80, reflecting continued positive investor sentiment following the announcement of the lucrative order.