Multibagger stock secures massive order of Rs 350 crore: know more here!

As the trading session concluded today, both the Sensex and Nifty demonstrated a minor upward shift of 0.02% each, suggesting a modest rise. 

In this optimistic market sentiment, the shares of Titagarh Rail Systems Limited zoomed by 1.73%. The company’s current market capitalisation is Rs 9,455.17 crore.  

From a technical perspective, as of August 30, 2023, the stock’s 200-day moving average (DMA) stood at Rs 397.24, while the 50-DMA was observed at Rs 615.26. With the current price at Rs 743.50 per share on BSE. In the recent crossover, the 50-DMA has surpassed the 200-DMA, signalling a robust and sustained upward rally over the long term. 

Today, heavy buying was attributed to the company securing an order. Details are below: 

On August 29, 2023, the Company received a Letter of Acceptance (LOA) from Gujarat Metro Rail Corporation (GMRC) Limited. This LOA marks a significant step forward for the Company in relation to the Design, Manufacture, Supply, Testing, Commissioning, and Training of 30 Standard Gauge Cars for the Ahmedabad Metro Rail Phase-II Project. 

The order holds substantial value, amounting to approximately Rs 350 crore. This achievement reinforces the company’s prowess in contributing to vital infrastructure projects and signifies a notable stride in its engagement with the Ahmedabad Metro Rail Phase-II Project. 

Established in 1997, Titagarh Wagons Limited is primarily involved in the production and distribution of an array of transportation solutions. These encompass Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialized Equipment & Bridges, as well as Ships. Operating with a global outlook, the company serves diverse markets, both within the country and beyond its borders. 

In addition to this, the stock has achieved multibagger status, delivering an exceptional return of over 1434% over the last 3 years. This remarkable performance further highlights the company’s significant growth and success in the market, attracting the attention of investors and contributing to positive market sentiment.

Keep a close eye on this trending stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.