Morgan Stanley Asia Singapore Pte acquired 7.63 lakh shares, or a 0.57% stake, in Titagarh Rail Systems in a bulk deal. The purchase was made at an average price of ₹1,120 per share, amounting to ₹85.5 crore. Meanwhile, Smallcap World Fund Inc sold a 0.59% stake at ₹1,120.12 per share.
The railway stock saw a decline of 1.27% to ₹1,132.45 on Wednesday, with a market capitalization of ₹15,251 crore. A total of 7.90 lakh shares changed hands, resulting in a turnover of ₹88.68 crore. Despite the fall, the stock has delivered multibagger returns of 1,019% over three years.
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Titagarh Rail Systems has shown impressive performance over the past few years, with its stock surging by 603% in two years. The stock hit a 52-week low of ₹703.80 on August 18, 2023, and reached an all-time high of ₹1,896.50 on June 27, 2024.
The stock has a one-year beta of 0.7, indicating low volatility. Its relative strength index (RSI) stands at 37.2, suggesting that it’s neither overbought or oversold. Despite the stock being below its 20, 30, 50, 100, 150, and 200-day moving averages, it is trading above its 5-day and 10-day averages.
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Titagarh Rail Systems is a key player in the manufacturing of freight wagons, passenger coaches, metro trains, train electricals, and specialised equipment. The company also operates in steel castings, shipbuilding, bridges, and defence-related manufacturing, making it a diversified player in the rail and transportation industry.
The company operates through three main segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence. Its diversified portfolio allows it to serve multiple sectors, ensuring consistent growth and a strong foothold in India’s rail and defence manufacturing space.
