Titagarh Rail Shares in Focus after ₹ 467 Crore Order Win from Grase, Exit from F & O Ban – CNBC TV18

Shares of Titagarh Rail Systems Ltd. Are on Focus on Friday, August 22, after the company said it has 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 explocation, 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 FOYING INTO NEW New Business Lines, Other Than Its Core Railways Business. It said it was after the shopbuilding and maritime systems business, where it would undertake marine marine business activities
The company also said it was after the signalling and safety systems business, where it would subject to compliance, undertake Activities related to RALWAY SAILWAY SINALING 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 those who means can be creatated in the stock.

Shares of Titagarh Rail Systems Ended The Previous Session 2.9% Higher A ₹ 858 Apiece. The stock has declared 22.6% this year, so far.

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