Rail-related shares in focus; Titagarh Wagons up over 5%

Titagarh Wagons rallied 9% to Rs 131 in intra-day on Friday, extending its Thursday's 5% gain on the BSE

Shares of railway related companies mainly small-sized such as Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Stone India and Kernex Microsystems were up between 3% and 7% on the BSE in an otherwise subdued market.

Titagarh Wagons has rallied 9% to Rs 131 on BSE in intra-day, extending its Thursday’s 5% gain on back of heavy volumes after reporting a good set of numbers for the quarter ended September 30, 2016 (Q2FY17).

The trading volumes on the counter jumped more than four-fold with around 3.8 million shares changed hands on the BSE and NSE till 10:13 am.

Titagarh Wagons had reported net profit of Rs 5.24 crore in Q2FY17 compared with net loss of Rs 0.53 crore in Q2FY16. Total income from operations rose 19.53% to Rs 104 crore on year on year basis.

On December 10, the company announced that it has received an order for construction of two fuel barges for the Indian Navy in its recently added ‘Shipbuilding’ vertical.

Earlier, the company has been accredited with registration by the Ministry of Defence (Navy), Directorate of Ship Production for undertaking construction of Non-Weapon Platforms up to 120 m length and for all types of Yardcraft through communication issued by the said authority on December 07, 2016.

Titagarh Wagons designs and manufactures wagons and coaches, specialized equipments & bridges and heavy earth moving machineries, ship building etc.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
TITAGARH WAGONS	128.1	120.25	6.53
STONE INDIA	80.5	76.5	5.23
CIMMCO	71.8	68.45	4.89
KERNEX MICROSYS.	40.75	39.15	4.09
TEXMACO RAIL	114.3	110.25	3.67
KALINDEE RAIL	119.6	116.1	3.01