Titagarh Wagons shoots up on winning new orders from Indian Navy
DSIJ Intelligence / 08 Nov 2016
Titagarh Wagons is buzzing on bourses on an intraday basis on Tuesday as it won a tender floated by Indian Navy for manufacture of vessels. The order won by the company is for Rs 75 crore for building of two 1000T oil tankers. The contract obligation will require the company to deliver the tankers in 21 months from signing of the contract.
Titagarh Wagons is buzzing on bourses on an intraday basis on Tuesday as it won a tender floated by Indian Navy for manufacture of vessels. The order won by the company is for Rs 75 crore for building of two 1000T oil tankers. The contract obligation will require the company to deliver the tankers in 21 months from signing of the contract.
Titagarh Firema also secured a new contract for about Euro 70 million for design, supply and installation of new traction system & fire protection system to be completed in 55 months. Titagarh Firema is an Italian subsidiary of Titagarh Wagons.
The total order book for the company now stands at Rs 3100 crore. The stock is trading at Rs 114.65 on Tuesday on an intraday basis, up by Rs 3.65 per share or 3.29 per cent. In one year the stock has generated approximately 6 per cent returns.
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