Titagarh Rail Share Price Jumps After Delivering Driverless Trainset To Bengaluru Metro
Titagarh plans to deliver two additional trainsets for the Yellow Line by April 2025.
Share price of Titagarh Rail Systems Ltd. surged 3.86% following the company’s successful delivery of its first driverless, Made-in-India trainset to the Bengaluru Metro Rail Corp. for the Yellow Line. The trainset, a stainless steel automated model, is designed for driverless operations and will serve the vital 18-km stretch connecting Electronic City to the rest of Bengaluru.
The trainset marks a significant achievement as the first passenger rolling stock entirely manufactured in India for the Bengaluru Metro. It also aligns with India’s push for indigenisation, the company said in an statement.
The handover ceremony was attended virtually by Manohar Lal, the Minister for Housing and Urban Affairs. Designed for modern performance, the trainset operates in the advanced Driverless Operation (GOA4) mode, enhancing operational efficiency. It boasts features such as reduced power consumption, modern interiors, and enhanced safety, providing a world-class passenger experience.
Titagarh plans to deliver two additional trainsets for the Yellow Line by April 2025 and aims to ramp-up production to two trains per month by September 2025, further solidifying its presence in the sector.
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Titagarh Rail Share Price Today
Share price of Titagarh Rail rose as much as 3.86% to Rs 1,129.95 apiece. It pared gains to trade 3.01% higher at Rs 1,120.70 apiece, as of 11:20 a.m. This compares to a 0.48% advance in the NSE Nifty 50.
The stock has risen 11.21% in the last 12 months. Total traded volume so far in the day stood at 0.6 times its 30-day average. The relative strength index was at 41.
Out of nine analysts tracking the company, eight maintain a 'buy' rating, and one recommends a 'hold', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 34.7%.
