India's Titagarh Rail Systems hits record high; up four fold this year

Titagarh Rail Systems

17/11/2023 09:25

** Shares of Titagarh Rail Systems Ltd  TITG.NS  rise as
much as 18.7% to hit a record 995 rupees
    ** Rolling stock manufacturer marks biggest intraday gain
since Jan, 2022
    ** Stock trading above its 50-day, 100-day and 200-day
moving averages
    ** Reason for the move was not immediately clear
    ** Earlier this month, co approved raising 7 billion rupees 
($84.1 million) through a qualified institutions placement of
shares; stock up ~15% since
    ** Analysts' average rating is equivalent of "buy;" median
PT is 970 rupees - LSEG data
    ** More than 11.8 mln shares change hands, highest volumes
since Feb 2016
    ** Stock last up 11.2%, taking YTD gains to over 300%

($1 = 83.2750 Indian rupees)

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))