India's Titagarh Rail Systems hits record high after Q4 profit jumps

Titagarh Rail Systems

16/05/2024 05:41

** Shares of Titagarh Rail Systems  TITG.NS  up as much as
9.4% to a record high of 1,217 rupees
    ** The railway wagon maker reported a 63.7% Y/Y rise in its
March-qtr consolidated net profit to 789.5 mln rupees ($9.5 mln)
    ** Revenue from operations rose 8% Y/Y to 10.52 bln rupees
    ** More than 3.4 mln shares changes hands, 2.7x its 30-day
avg
    ** TITG stock on track for a third straight session of
gains, if current trend holds
    ** Average rating of seven analysts covering the stock is
"buy"; median PT is 1,252 rupees - LSEG data
    ** Including session's gains, stock up 13.6% this year,
outpacing the 7% rise in the Nifty 500 index  .NIFTY500 

   ($1 = 83.4575 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))