Titagarh Rail Systems shares touched a day high of Rs 845 on the NSE after the company signed an MoU with Siemens for global metro projects.

Behind the move is a fresh tie-up with Siemens. On August 25, Titagarh signed a non-binding Memorandum of Understanding with the global engineering major to jointly explore metro rolling stock opportunities outside India.

The MoU allows both companies to evaluate international metro projects on a case-by-case basis.

For Titagarh, this fits into a broader push to grow its overseas presence while continuing to manufacture locally in India.

No deal value or specific project details have been disclosed yet, since this is only an exploratory agreement at this stage. This isn’t the company’s only recent update either.

Titagarh’s board also put out a press release on August 21 about inaugurating a new design and operations centre in West Bengal, so the stock has stayed in the news through the week.

Zooming out a bit, the stock’s recent trend has been mixed. Over the past month it is up 1.78%, though it remains down 5.80% since the start of the year.

The longer term picture looks a lot better, with the stock delivering gains of over 751% across the past five years. Trading activity was healthy too.

By mid-morning, 2.49 lakh shares had changed hands for a traded value of Rs 20.86 crore. Buyers appeared to be in control of the price action, even though sellers held a larger share of the pending order book.

As of 12:58 pm, Titagarh Rail Systems shares were trading at Rs 837.05 on the NSE, up 1.41% for the day.

The stock’s 52 week range runs between Rs 568.70 and Rs 971, and the company’s market capitalisation currently stands at around Rs 11,186 crore.

Tired of guessing stocks to trade in daily?

Tradz by EquityPandit empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more.

Download the Tradz by EquityPandit app today and take control of your investments!