Jefferies starts coverage of India's Titagarh Rail and Jupiter Wagons

Titagarh Rail Systems

06/04/2026 08:56

** Jefferies starts coverage of India's Titagarh Rail System TITG.NS with 'buy' and Jupiter Wagons JUWL.NS with 'underperform'

** Shares of Titagarh Rail up 2.7% at 631.50 rupees, Jupiter Wagons up 0.23% at 257.27 rupees

** Brokerage says TITG (TP:810 rupees) will be key beneficiary of rising passenger, metro coach demand; estimates 5% revenue growth between FY26-30 led by 14x rise in its passenger segment revenues

** Adds JUWL (TP:200 rupees) appears expensive relative to its expected FY25–30 EPS growth and flags higher wagon exposure as limiting long-term growth visibility versus peers

** YTD, TITG down 31.06% vs 24.5% drop for JUWL

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))