Titagarh Wagons rises on wining Rs 275-cr wagons order
The company's French subsidiary Titagarh Wagons AFR S.A. bagged an order for Rs 275 crore (Euro 39 million) from a subsidiary of SNCF (French Railways) for supply of 400 hopper cereal wagons.
Titagarh Wagons has moved higher by 4% to Rs 200 in noon deals on BSE after the company said its French subsidiary Titagarh Wagons AFR S.A. bagged an order for Rs 275 crore (Euro 39 million) from a subsidiary of SNCF (French Railways) for supply of 400 hopper cereal wagons.
“This order would enable TWAFR to further consolidate its position and attain higher cost competitiveness by a prudent mix of outsourcing certain components from India as well as optimizing the production processes in France,” said Umesh Chowdhary, Vice Chairman & Managing Director of Titagarh Wagons.
The company would continue its efforts of expanding our products and customer base in Europe and would also be exploring other emerging markets such as Africa via French subsidiary, he added.
Titagarh Wagons had set up the French subsidiary in July, 2010 to take over the manufacturing facility of AFR, a company which specialized in the design, construction and marketing car freight and tank containers.
The stock has opened at Rs 197 and hit a high of Rs 206 on BSE. A combined around 350,000 shares have changed hands on the counter so far on BSE and NSE.
“This order would enable TWAFR to further consolidate its position and attain higher cost competitiveness by a prudent mix of outsourcing certain components from India as well as optimizing the production processes in France,” said Umesh Chowdhary, Vice Chairman & Managing Director of Titagarh Wagons.
The company would continue its efforts of expanding our products and customer base in Europe and would also be exploring other emerging markets such as Africa via French subsidiary, he added.
Titagarh Wagons had set up the French subsidiary in July, 2010 to take over the manufacturing facility of AFR, a company which specialized in the design, construction and marketing car freight and tank containers.
The stock has opened at Rs 197 and hit a high of Rs 206 on BSE. A combined around 350,000 shares have changed hands on the counter so far on BSE and NSE.