Shares of Titagarh Rail Systems Ltd surged 3% to hit a day’s high of Rs 919 on 3rd November, after the company announced that it had received a Letter of Acceptance (LoA) from the Mumbai Metropolitan Region Development Authority (MMRDA) on 31st October for the design, manufacture, supply, installation, and commissioning of advanced metro systems for the Mumbai Metro Line 5 project.

The Rs 2,481 crore order covers both Phase 1 (Kapur Bawdi–Kasheli Dhamankar Naka) and Phase 2 (Dhamankar Naka–Bhiwandi–Kalyan APMC) of Mumbai Metro Line 5.

The project includes rolling stock, communication-based signalling, and telecommunication. It also includes platform screen doors, depot machinery, and plant systems. Moreover, it involves five years of maintenance after a two-year defect liability period.

As per the schedule, Phase 1 is expected to begin operations within 108 weeks. Phase 2 should begin in 200 weeks, and GOA-4 commissioning in 217 weeks. The maintenance period will last seven years after commissioning.

Vice Chairman and MD Umesh Chowdhary said the contract highlights Titagarh’s expertise in end-to-end metro solutions. It also reinforces its commitment to India’s vision for sustainable, world-class transport.

The driverless Make-in-India metro trains will have stainless-steel car bodies for better durability, efficiency, and passenger comfort. Production will take place at the company’s Uttarpara facility in Kolkata, which also manufactures trains for the Ahmedabad, Surat, and Bengaluru metro projects. Furthermore, they produce Sleeper Vande Bharat trains for Indian Railways.

At 12:26 PM, shares of Titagarh Rail Systems were trading 2.67% higher at Rs 908.20 on NSE.

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