Shares of Titagarh Rail Systems Ltd rose 2% to touch a day’s high of Rs 861.85 on 4th August after the firm said it has won an order worth Rs 1,598.55 crore from NCC Ltd for the Mumbai Metro Rail project of MMRDA.

Titagarh Rail said the contract involves designing, manufacturing, supplying, installing, integrating, testing, and commissioning rolling stock. The contract also includes five years of maintenance after a two-year defect liability period for Mumbai Metro Line 6 (Swamy Samarth Nagar to Vikhroli). Notably, the design and build period is set at 104 weeks.

Last month, the company received a Rs 312 crore order from the Ministry of Railways. This order is to manufacture and supply 780 BVMC-C Wagons and is to be completed in nine months.

Additionally, the board approved raising Rs 200 crore by issuing 21.16 lakh fully convertible warrants at Rs 945 each to promoter entities. Each warrant is convertible into one equity share of Rs 2 face value.

At 10:25 AM, the shares of Titagarh Rail Systems were trading 2.03% higher at Rs 853.20 on NSE.

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