Titagarh Rail Systems, the esteemed rail systems company, marked a promising beginning in today’s trading, opening higher and currently surging by 2.00% at Rs 803.80, a considerable rise from its previous closing figure of Rs 769.95. The upswing comes in the wake of a significant development: the Gujarat Metro Rail Corporation Limited (GMRCL) has inked a pivotal contract with Titagarh Rail Systems Ltd (TRSL).
Under this contract, TRSL is entrusted with the commissioning of 72 standard gauge cars for the Surat Metro Rail Phase 1 Project, amplifying the city’s public transportation infrastructure. Additionally, TRSL has garnered a Letter of Acceptance (LoA) for supplying 30 standard gauge cars for Phase II of the Ahmedabad Metro Rail Project, underscoring the company’s prominence in shaping India’s metro rail landscape.
The estimated value of these projects stands at an impressive Rs 857 crores, affirming Titagarh’s standing as a key player in the rail systems domain. The commencement of the contract’s execution is slated to begin 76 weeks after its signing, with completion expected within 132 weeks thereafter.
