India's Titagarh Rail Systems rises on MS 'overweight' rating

Titagarh Rail Systems

07/05/2024 06:53

** Shares of Titagarh Rail Systems  TITG.NS  rise 6.7% to a
three-month high of 1102.55 rupees
    ** Morgan Stanley starts with "overweight" and 1,285 rupees
PT, which is 2nd-highest among seven analysts
    ** MS expects the train parts maker to be major beneficiary
of revival in India's railways
    ** Says passenger coach business, whose earnings potential
"markets are not factoring in yet", will be new growth engine   
    ** Analysts' avg rating on TITH is "buy"; median TP is 1,252
rupees -LSEG data
    ** TITG shares up 6.4% so far in 2024 compared to 9.3% rise
in small-cap 100 index  .NIFSMCP100 

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