Shares of Titagarh Rail Systems jumped 8% to ₹1,223.8 during Thursday’s trading after Morgan Stanley Asia Singapore Pte bought a 0.57% stake (7.63 lakh shares) in the company through a bulk deal the day before. The purchase was worth ₹85.5 crore and was made at an average price of ₹1,120 per share.
At the same time, Smallcap World Fund Inc. sold a 0.59% stake (7.9 lakh shares) in Titagarh Rail at an average price of ₹1,120.12 per share, totaling ₹88.6 crore.
By 1:19 pm, the stock was trading 4.9% higher at ₹1,188 on the BSE. So far in 2024, the stock has gained 14% and has surged an impressive 640% over the past two years, bringing its market capitalization to ₹15,975 crore.
In the first quarter of FY25, the wagon manufacturer reported an 8.4% year-on-year increase in net profit, reaching ₹67 crore, compared to ₹61.79 crore in the same period last year. However, revenue fell slightly by 1% to ₹903 crore, down from ₹910.8 crore a year earlier.
According to Trendlyne data, the average target price for the stock is ₹1,798, indicating a potential upside of 51% from current prices. The consensus recommendation from five analysts is a “Strong Buy.”
In technical analysis, the relative strength index (RSI) of the stock is at 37.2, showing that it is neither overbought nor oversold. Additionally, the MACD is at -72, which is below its center line and signals a bearish trend. Titagarh Rail stock is currently above the 5-day, 10-day, and 20-day simple moving averages (SMAs) but below the 30-day, 50-day, 100-day, 150-day, and 200-day SMAs. Titagarh Rail Systems, formerly known as Titagarh Wagons, is the largest private manufacturer of wagons and a well-established player in passenger coaches.
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