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Shares of Titagarh Wagons (TWL) hit a new high of Rs 310, surging 8 per cent on the BSE in Wednesday's intra-day trade, after the company announced that its consortium with Bharat Heavy Electricals Ltd (BHEL) has bagged an order worth Rs 9,600 crore to supply 80 sleeper class Vande Bharat trains to Indian Railways over six years.
In the past six months, the stock has zoomed 100 per cent, as compared to 4.7 per cent rise in the S&P BSE Sensex. It has skyrocketed 1,412 per cent from its March 2020 low level of Rs 20.50 on the BSE.
In an exchange filing, the company on Tuesday said the consortium of Bharat Heavy Electricals (BHEL) and TWL (BHEL-TWL Consortium) has been awarded an order for 80 number of Vande Bharat trainsets in the mega tender of Indian Railways.
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The order for the annual maintenance contract (AMC) has also been placed for 35 years. The order is for supply of 80 trains each at a cost of Rs 120 crore, excluding taxes and duties. The consortium will also equip, upgrade, operate, and maintain the exclusive place provided in the manufacturing unit at ICF Chennai and two depots assigned by the Indian Railways.
Last week, the consortium of Ramkrishna Forgings and TWL (RKFL-TWL Consortium) had received the Letter of Award (LoA) from the Ministry of Railways for manufacturing and supply of forged wheels under long term agreement under Aatma Nirbhar Bharat.
The company said the size of contract was Rs 12,226.50 crore for manufacturing and supply of 1.54 million forged wheels of different rolling stocks to the Ministry of Railways over a period of 20 years in accordance with the terms and conditions of the agreement.
Indian Railways has been focused on pursuing growth with emphasis on the Make in India policy under Aatma Nirbhar Bharat initiative of the Government.
TWL offers mobility solution to billions with its prominent presence in both the Passenger and Freight Rolling Stock. TWL is the largest private sector manufacturer of Wagons and an established player in railway coaches (EMUs, MEMUs).
TWL recently received the largest-ever order for Wagons from Indian Railways and is currently also executing the order for 102 Metro coaches for the Pune Metro and has already started delivery of Metro coaches of aluminum body, manufactured at its state-of-the art facilities in Uttarpara, West Bengal, with the design developed in partnership with its Italian venture.
The manufacture of Propulsion & Train Electricals, Metallic Bridges, Shipbuilding, and products for the country's Defence establishment are the other business segments of Titagarh. In addition to Uttarpara, Titagarh has engineering infrastructure in Titagarh in West Bengal and Bharatpur in Rajasthan.
Taking note of the need to reflect its expanded business portfolio in rail systems space, the board of TWL approved the proposed change in name to Titagarh Rail Systems Limited at its meeting held on March 17, 2023, subject to necessary approvals.
