2024-01-10 04:29:00
Titagarh Rail Systems Ltd sees 1,606% gain in 3 years, stock up 338% in a year
Shares of Titagarh Rail Systems Ltd have gained an impressive 1,606 percent in the last three years, soaring to a high of Rs 120.20 on January 9, 2024. The railway stock, which closed at Rs 58.95 on July 8, 2021, has given investors multipacker returns. The company now boasts a market capitalization of Rs 13,739 crore, with a turnover of Rs 3.83 crore, and a total of 0.38 lakh shares exchanged.
In the last year alone, Titagarh Rail stock has zoomed by 338 percent, and in six months, it has risen by 100 percent. The stock touched a 52-week low of Rs 194.80 on February 6, 2023, and a high of Rs 1090.30 on December 20, 2023.
In terms of technicals, the relative strength index (RSI) of the stock is at 51.1, which is neither trading in the overbought nor oversold zone. Additionally, Titagarh Rail Systems shares are trading lower than the 5-day, 10-day, 20-day, 30-day, but higher than the 50-day, 100-day, 150-day, and 200-day moving averages.
Systematics Institutional Equities has initiated coverage on the railway stock with a target price of Rs 1202, forecasting a significant growth in the company’s revenue/EBITDA and PAT in the coming years.
Another brokerage, Antique Broking, has set a target price of Rs 1252. However, Abhijeet of Tips2Trades cautioned about strong resistance at Rs 1084 and support below Rs 983 on a daily basis.
Titagarh Rail Systems posted a 46.5 percent increase in net profit to Rs 70.6 crore in Q2 against a net profit of Rs 48.2 crore in the September 2022 quarter. Meanwhile, total revenue rose 54.1 percent to Rs 935.5 crore in Q2 from Rs 607.1 crore in the corresponding period of the previous fiscal, with earnings per share also seeing a significant rise.
The company operates in three segments, including Freight Rolling Stock, Passenger Rolling Stock, and Shipbuilding and Bridges. With such strong performance in recent years, Titagarh Rail Systems continues to make strides in the railway industry, offering potential opportunities for investors.
(Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult with a qualified financial advisor before making any decisions.)
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