Shares of Titagarh Rail Systems Ltd soared 2% on 30 June after the company announced securing an order from the Pune Metro Rail Project.

In a regulatory filing, the company stated that Titagarh Rail Systems Ltd and its affiliate firm, Titagarh Firema S.p.A., have received a Letter of Approval from Maharashtra Metro Rail Corporation Ltd.

The order, valued at Rs 430.53 crore, is for the supply of 12 additional train sets as a quantity variation under clause A.6 of Contract No: P1/RS-01/2018, which includes the design, manufacture, supply, testing, and commissioning of passenger rolling stock (electrical multiple units) as well as personnel training for the Pune Metro Rail Project.

The contract is expected to be finished within two and a half years.

Titagarh Rail Systems manufactures and sells freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment, bridges, and ships. The company operates through three business segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence.

At 2:40 pm, the shares of Titagarh Rail were trading 0.44% higher at Rs 940.50 on NSE.

Tired of missing hot stocks? Unicorn Signals provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!