Titagarh Rail Systems Ltd (TRSL) saw a 4% surge in its share price after announcing the commencement of its first export of traction converters to Italy.
Titagarh Rail Systems’ Order Shipment to Italy
The company shipped the first batch of 8 converters to Titagarh Firema S.p.A, Italy, as part of a EUR 7.18 million (approximately Rs 65 crore) order. This shipment marks the first rollout from TRSL’s Passenger Rolling Stock Facility in India.
Titagarh Firema received the order from Regione Lazio, Italy, for the design and manufacture of 38 trainsets, valued at approximately EUR 276 million, with a design speed of 100 kmph.
Titagarh Rail Systems Share Price
As of 12:05 PM, TRSL shares were trading 3.67% higher at ₹1,646.50 on the NSE.
Union Budget Impact on Titagarh Rail Systems and other railway stocks
Following the Union Budget 2024, stocks in the defense and railways sectors, including multibaggers, have been in focus. The budget outlined a capital allocation of Rs 2.55 lakh crore for FY25 for railways, an increase from the revised estimate of Rs 2.4 lakh crore for FY24. This allocation supports the expansion of rolling stocks, new lines, doubling and track renewals, and electrification. Analysts view these developments as positive for companies like Titagarh Rail, Hitachi Energy, KEC International Ltd, Larsen & Toubro (L&T), Siemens Ltd, RVNL Ltd, RITES Ltd, and others in the sector.
