Titagarh Rail Systems rises on launching specialised tug for Indian Navy

On Monday, Titagarh Rail Systems shares rose 3.49% to trade at Rs 1084.95, from its previous closing of Rs. 1048.40 on the BSE. 

Launch of 25T Bollard Pull Tug for Indian Navy 

Titagarh Rail Systems (TRSL) has launched the first indigenous 25T Bollard Pull Tug built at its facility in Titagarh, Barrackpore, for the Indian Navy. The 25T Bollard Pull Tug was launched at the Shipyard in Titagarh, West Bengal, in alignment with the tides that facilitate the deployment of the Tug in the water. As an integral part of the transformative policies introduced by the Government of India, such as Make in India and Atmanirbhar Bharat, Titagath is actively engaged in building a fleet of six specialised tugs for the Indian Navy. Each tug is meticulously designed to provide a 25-ton Bollard Pull, showcasing its robust capabilities in diverse maritime operations. 

Their primary functions involve assisting naval vessels, including ships and submarines, in berthing, unberthing, and manoeuvring. Furthermore, they play a crucial role in the ‘cold move’ of vessels undergoing maintenance, ensuring seamless operations during dry docking and undocking processes. In adverse weather conditions, these tugboats are essential for providing support to warships, preventing potential damage, and offering firefighting assistance. They are also equipped to handle more challenging assignments such as salvage operations and Search & Rescue (SAR) missions beyond the confines of the port. 

Company profile 

Titagarh Rail Systems is formerly known as Titagarh Wagons. The company is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Steel Castings, Specialised Equipments & Bridges, Ships, Heavy Earthmoving and Mining Equipments, etc. 

Stock price movement 

Today, the stock opened at Rs 1059.60 and has touched a high and low of Rs 1084.95 and Rs 1032.80 respectively. The BSE group ‘A’ stock of face value Rs 2 has a 52-week high and low of Rs 1110.00 and Rs 194.80, respectively. Last one week high and low of the scrip stood at Rs 1110.00 and Rs 997.45 respectively. The current market cap of the company is Rs 14,481.47 crore. 

The promoters holding in the company stood at 44.97%, while Institutions and Non-Institutions held 27.31% and 27.72% respectively. 

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.