Titagarh Rail Systems takes the plunge: Dives into naval support and training

Today, both the Sensex and Nifty are showcasing strong gains, with increases of 0.86% and 0.93%, respectively. In this optimistic market sentiment, the shares of Titagarh Rail Systems Limited zoomed by 2.30%. Additionally, the stock hit the fresh 52-week high mark at Rs 830 apiece on BSE. The company’s current market capitalisation is Rs 10,529.77 crore.

On August 30, 2023, Titagarh Rail Systems Limited secured a contract from the Indian Navy in February 2021 for building five Diving Support Crafts (DSCs). Today, the company unveiled the first DSC at its shipyard in Titagarh, West Bengal.

TRSL holds the distinction of being the first private shipbuilder in West Bengal to deliver complex sea vessels to the Indian Navy. Moreover, it is now the first and only private shipyard in West Bengal to construct a warship for the Indian Navy. This delivered DSC will be inducted into the Indian Navy’s Southern Naval Command Clearance Diving Teams (CCDT), enhancing their capabilities for underwater repair, maintenance, and salvage operations within designated harbours.

With a total of five DSCs planned under the awarded contract, TRSL is scaling up its manufacturing operations to meet the agreed-upon schedule for delivering the remaining four DSCs. This achievement underscores TRSL’s commitment to bolstering India’s naval capabilities through indigenous production and cutting-edge technology.

Commenting on this momentous occasion, Vice Chairman & Managing Director of Titagarh Rail Systems Limited Umesh Chowdhary enthused, “We are extremely delighted to launch the first DSC to the Indian Navy and remain committed to maintaining our stellar reputation of building quality ships. I would like to appreciate the tireless efforts put in by all members and organisations involved in this project. I express my deepest gratitude to the Indian Navy for giving us an opportunity to build a warship. All components used in building this technology-laden diving vessel are indigenously sourced which makes them proud flag bearers of the ‘Make in India’ initiative of Government.”

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 and 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 1752% 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.