Titagarh Rail shares in focus after ₹467 crore order win from GRSE, exit from F&O ban

Shares of Titagarh Rail Systems Ltd. declined on Friday, August 22, after the company said it has won a letter of intent from Garden Reach Shipbuilders and Engineers Ltd. to construct two ship vessels for ₹467.25 crore.The vessels will be built for Garden Reach Shipbuilders and are intended to be used by the Geological Survey of India, the company said. The ships are research vessels for use in coastal exploration. Their main features will include:

• Offshore geological mapping
• Mineral exploration, including dredging
• Ocean environment monitoring and research
• Shipboard data processing and sample analysis in well-equipped scientific laboratories

Earlier in February, Titagarh Rail had announced its plans of foraying into new business lines, other than its core railways business. It said it was foraying into the shipbuilding and maritime systems business, where it would undertake marine business activities such as shipbuilding, ship repair, among others.
The company also said it was foraying into the signalling and safety systems business, where it would subject to compliance, undertake activities related to railway signalling and safety , including but not limited to train control and condition monitoring.The segment would focus on railway operations and would be involved in development and installing products that enable smooth and secure train operations.

Another trigger that keeps Titagarh in focus ahead of today’s trading session is the fact that the stock has exited the Futures & Options (F&O) ban, which means new positions can be created in the stock.

Shares of Titagarh Rail Systems were down 0.36% at  ₹852 apiece around 10.15 am on Friday.

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