Titagarh Wagons toots loud!
Titagarh Wagons, the Kolkatta based company, which makes coaches for the Indian Railways, bailey bridges, and mining equipments, is making waves today. From its close of yesterday at Rs.287.95, the stock opened itself almost 8% higher at Rs.310, hitting a new 52-week high. Its come off the high and is now trading at Rs.293 levels.
The stock price reacted to its consortium with BHEL wining an order for 80 Vande Bharat trainsets in the mega tender of Indian Railways. The order also comprises of comprehensive maintenance of the same for 35 years.
The value of the order- rate of Rs 120 cr/Trainset (excluding taxes & duties), which works out to Rs.9600 crore.
This total mega order is for 200 trains, worth Rs.58,000 crore and till now, including this one, orders for 182 trains have been placed.
This will be a 16-coach Vande Bharat train. There is a provision for increasing the number of coaches to 20 if the demand grows for a particular section.
According to the tender document, the successful bidder has to produce a prototype of the sleeper class for Vande Bharat trains within 24 months.
The railway ministry is also working towards exporting these trains by 2026 to cover the international markets of South Africa and European countries.