Titagarh Rail Systems’ share rose a 52-week of Rs 529.20, increasing nearly 5% in early trade after it bagged an agreement from Gujarat Metro Rail Corporation.

Titagarh Rail Systems has acknowledged the letter of acceptance (LOA) from Gujarat Metro Rail Corporation (GMRC) for the strategy, manufacture, supply, testing, commissioning, and training of 72 standard-gauge cars for Surat Metro Rail Phase-I project I. The order value is estimated at Rs 857 crore.

The implementation would start 76 weeks after signing the contract and is programmed to be accomplished in 132 weeks.
On June 15, a consortium between Ramkrishna Forgings Limited (RKFL) and Titagarh Rail Systems Limited (TRSL), was presented the contract to manufacture and supply 15,40,000 forged wheels over 20 years under the Aatma Nirbhar Bharat Initiative by the railway ministry.

The contract will witness the consortium bringing 40,000 forged wheels during the first year, 60,000 in the second year and 80,000 every succeeding year, with the overall contract valued at Rs 12,226.5 crore.
At 9:39 am, Titagarh was trading at Rs 513.95, up Rs 8.40, or 1.66%, on the BSE.