Titagarh Wagons is currently trading at Rs. 115.55, up by 2.30 points or 2.03% from its previous closing of Rs. 113.25 on the BSE.
The scrip opened at Rs. 113.25 and has touched a high and low of Rs. 118.50 and Rs. 113.25 respectively. So far 97600 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 122.80 on 11-Jan-2022 and a 52 week low of Rs. 44.20 on 26-Mar-2021.
Last one week high and low of the scrip stood at Rs. 122.80 and Rs. 96.25 respectively. The current market cap of the company is Rs. 1384.63 crore.
The promoters holding in the company stood at 45.77%, while Institutions and Non-Institutions held 14.72% and 39.51% respectively.
Titagarh Wagons (TWL) has acquired the land and infrastructure of Precision Shipyard located in Falta, West Bengal, in an auction of sale conducted by the Union Bank of India. Titagarh has already been building ships for the Indian Navy, National Institute of Ocean Technology etc., in its shipyard located in Titagarh. However acquisition of the present infrastructure will enable Titagarh to substantially enhance its capability and capacity for the ship-building business.
The new land and infrastructure acquired by Titagarh would remove the biggest constraint that Titagarh faced of being located North of the Howrah bridge, which was limiting both the water draft and air draft available, due to this Titagarh was unable to participate in many tenders. With this acquisition, Titagarh will be able to functionally merge the 2 facilities at Titagarh and in Falta in order to cater to a much wider range of specialised ship-building activities.
Titagarh Wagons is the largest private sector manufacturer of railway coaches (EMUs, MEMUs) and the largest wagon maker (other than Railways).