Titagarh Rail Gains 6% As Morgan Stanley Buys Stake Worth Rs 85.5 Crore

Titagarh Rail Share Price: Shares of Titagarh Rail Systems gained over 6 per cent after Morgan Stanley Asia Singapore Pte bought a stake in the firm in a bulk deal in the previous trading session. The firm bought a 0.57 per cent stake or 7.63 lakh shares in the company worth Rs 85.5 crore at an average price of Rs 1,120 per share

On the other hand, Smallcap World Fund Inc offloaded a 0.59 per cent stake in the company at an average price of Rs 1,120.12 per share, valued at Rs 88.6 crore.

The railway stock fell 1.27 per cent to Rs 1132.45 on Wednesday. The market cap of the firm stood at Rs 15,251 crore. A total 7.90 lakh shares of the firm changed hands amounting to a turnover of Rs 88.68 crore. Titagarh Rail stock has clocked multibagger returns of 1019 per cent in three years and zoomed 603 per cent in two years.

The stock touched its 52-week low of Rs 703.80 on August 18, 2023 and rose to a record high of Rs 1896.50 on June 27, 2024.

It has a one-year beta of 0.7, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of the stock stands at 37.2, signaling it’s trading neither in overbought nor in the oversold zone. Titagarh Rail Systems shares stand lower than the 20 day, 30 day 50 day, 100 day, 150 day and 200 day but higher than the 5 day and 10 day moving averages.

In the past 12 months, the counter has risen 50 per cent more than doubling investors’ capital. In comparison, Nifty rose 31 per cent during this period.

Titagarh Rail Systems is engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment and bridges, and ships.

The company operates through three segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence.