Tuesday 23 July 2013

Titagarh Wagons spurts on acquiring 100% stake in Titagarh FreightCar

Titagarh Wagons is currently trading at Rs. 90.00, up by 1.00 points or 1.12% from its previous closing of Rs. 89.00 on the BSE.

The scrip opened at Rs. 93.00 and has touched a high and low of Rs. 93.00 and Rs. 89.40 respectively. So far 10242 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 392.95 on 13-Dec-2012 and a 52 week low of Rs. 87.50 on 10-Jul-2013.

Last one week high and low of the scrip stood at Rs 94.35 and Rs. 88.10 respectively. The current market cap of the company is Rs. 180.43 crore.

The promoters holding in the company stood at 53.13% while Institutions and Non-Institutions held 11.95% and 34.92% respectively.

Titagarh Wagons has acquired 100% stake of the foreign partner in Titagarh FreightCar (TFPL) on pursuant to the agreement entered into between the joint venture partners.  Accordingly TFPL has become a wholly owned subsidiary of the Company with the effect from July 19, 2013.

Titagarh Wagons is engaged in manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. It also manufactures special wagons, shelters and other engineering equipment for the Indian defence establishment.

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