Titagarh Wagons gains after winning order

Titagarh Wagons rose 3.81% to Rs 118.45 at 10:25 IST on BSE after the company said it has received an order from Indian Navy for construction of two fuel barges.

The announcement was made on Saturday, 10 December 2016.

Meanwhile, the BSE Sensex was down 149.68 points, or 0.56%, to 26,597.50.

On the BSE, so far 2.24 lakh shares were traded in the counter, compared with average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 119.65 and a low of Rs 116 so far during the day.

The stock hit a 52-week high of Rs 166.40 on 1 January 2016. The stock hit a 52-week low of Rs 84 on 24 May 2016. The stock had outperformed the market over the past 30 days till 9 December 2016, falling 1.13% compared with the 2.80% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 6.24% as against Sensex's 7.12% decline.

The small-cap company has equity capital of Rs 23.08 crore. Face value per share is Rs 2.

Titagarh Wagons said it has been accredited with registration by the Ministry of Defence (Navy), Directorate of Ship Production for undertaking construction of non-weapon platforms upto 120 m length and all types of yardcraft vide communication dated 7 December 2016 issued by the said authority. Further, the company has received an order for construction of two fuel barges for the Indian Navy in its recently added shipbuilding vertical.

Net profit of Titagarh Wagons rose 116.18% to Rs 3.74 crore on 18.67% rise in net sales to Rs 67.05 crore in Q1 June 2016 over Q1 June 2015.

Titagarh Wagons designs and manufactures wagons such as container flats, grain hoppers, cement wagons, clinker wagons, tank wagon under the French brand Arbel Fauvet Rail. Titagarh also manufacturers cast steel bogies and couplers for freight application.

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