Titagarh Rail Systems rose 8.20% to Rs 1204.10 against the previous close of Rs 1111.35 on BSE. Market cap of the firm rose to Rs 15,925 crore.
Titagarh Rail Systems shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Shares of multibagger Titagarh Rail Systems zoomed 8% in early trade today after the firm reported its earnings for March quarter and FY24. The engineering company reported a 64% year-on-year (YoY) rise in net profit to Rs 79 crore in Q4 against a net profit of Rs 48.2 crore in Q4 of FY23. Revenue from operations climbed 8% to Rs 1,052.4 crore in the last quarter against Rs 974.2 crore in the corresponding period of the preceding fiscal.
Titagarh Rail Systems rose 8.20% to Rs 1204.10 against the previous close of Rs 1111.35 on BSE. Market cap of the firm rose to Rs 15,925 crore. Total 1.10 lakh shares of the firm changed hands amounting to a turnover of Rs 12.98 crore.
Titagarh Rail stock has clocked multibagger returns of 260% in a year and zoomed 13.34% this year. The stock has clocked positive returns in all time periods up to 10 years. It fell to a 52-week low of Rs 321 on May 24, 2023.
It has a one-year beta of 0.9, indicating low volatility during the period.
In terms of technicals, the relative strength index (RSI) of the stock stands at 66.4, signaling it’s trading in neither in the overbought nor in the oversold zone. Titagarh Rail Systems shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Operating profit rose 25.7% to Rs 120 crore in the fourth quarter of this fiscal over Rs 95.5 crore in the corresponding period in the previous fiscal.
EBITDA margin climbed to 11.4% in Q4 as compared to 9.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board recommended a dividend of 40% (i.e. Rs 0.80) per equity share of Rs 2 each for the financial year 2023-24. The dividend as recommended by the Board is subject to approval of the shareholders at the ensuing Annual General Meeting.
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.
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