Morgan Stanley has reiterated its overweight rating on Titagarh Rail Systems with a target price of ₹1,017 per share. At the current market price of ₹886.45, the target implies an upside of around 15 percent.
The brokerage highlighted that Titagarh is well placed to benefit from a large tender in the passenger rail segment worth ₹210 billion. It said the competitive environment remains benign, with only a few key players such as Titagarh, Alstom and BEML actively competing in this space.
Morgan Stanley added that Titagarh’s strong engineering capabilities, large manufacturing capacity and technology support position the company favourably to capture a meaningful share of this opportunity. The brokerage said these strengths, combined with industry tailwinds, reinforce its positive stance on the stock.
Disclaimer: The views and investment recommendations expressed above are those of Morgan Stanley. They do not represent the views of this publication. This article is for informational purposes only and is not investment advice.
