Titagarh Wagons surged 6.09% at Rs 70.60 at 09:39 IST on BSE after the company was awarded a contract to manufacture and supply wagons to Indian Railways.
The announcement was made after market hours yesterday, 10 December 2018.Meanwhile, the S&P BSE Sensex was down 339.91 points, or 0.97% to 34,619.81
On the BSE, 77,000 shares were traded in the counter so far compared with average daily volumes of 35,000 shares in the past two weeks. The stock had hit a high of Rs 71.20 and a low of Rs 66.50 so far during the day.
Titagarh Wagons was awarded a contract for manufacture and supply of 5,058 wagons to Indian Railways, the bidding for which was conducted under the reverse auction method. These wagons are BOXN HL type, designed to carry coal, steel, stones etc. and the value of order is Rs 1560.87 crore. As per the contract, one third quantity (1,686 wagons) is to be supplied within six months and to complete the supply of full quantity of wagons before 28 February 2020.
Titagarh Wagons caters to passenger rolling stock including double decker and single deck commuter trains, metros, trams. It designs and manufactures wagons such as container flats, grain hoppers, cement wagons, clinker wagons, tank wagon. It also manufacturers cast steel bogies and couplers for freight application.
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