Titagarh Wagons announced yesterday after market hours that it has won an order worth Rs.1560 crore from the Indian Railways.
This is for manufacture and supply of 5058 Wagons to Indian Railways, the bidding for which was conducted under the reverse auction method.
These Wagons are BOXN HL type, designed to carry coal, steel, stones etc.
As per the contract, one third quantity, which is 1686 wagons are to be supplied within six months and to complete the supply of full quantity of Wagons before 28.02.2020.
The stock price of Titagarh Wagons rose over 8.5% to Rs.72.30, with volumes going up over 3 times.