India's Titagarh Rail Systems hits record high on earnings boost

Titagarh Rail Systems

24/07/2023 06:49

** Shares of Titagarh Rail Systems  TITG.NS , which
manufactures rail wagons and vehicle control systems, rise as
much as 9.71% to a record high of 675 rupees
    ** Uptick comes after co posts 50-fold Y/Y increase in
consolidated net profit in June quarter
    ** Revenue from operations more than doubles while core
profit jumps 163%
    ** Core profit margin also expands to 11.64% from 9.31%
    ** Of the six analysts tracking TITG, three maintain "strong
buy", three suggest "buy", median TP is 495 rupees 
    ** Stock up 193% in 2023 so far compared to 9.09% rise in
Nifty 50  .NSEI  

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))