India's Titagarh Rail Systems tumbles on subdued Q1 results

Titagarh Rail Systems

31/07/2024 05:09

** Shares of Titagarh Rail Systems Ltd  TITG.NS  down 4.5%
at 1,607.50 rupees 
    ** Railway wagons manufacturer reports 0.8% dip in Q1
revenue, hurt by weak demand in smaller passenger rolling stock
business, which slid 63%
    ** TITG's EBITDA declines 4%, while EBITDA margin contracts
to 11.3% from 11.7% last year
    ** Analysts tracking TITG rate it "buy" on avg, same as
peers Jupiter Wagons  JUWL.NS  and Texmaco Rail  TEXA.NS   -
LSEG data
    ** Stock trims YTD gains to 53%, trails TEXA's 59% rise and
JUWL's 93% jump

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))