Titagarh Shares Jump 2.37% as it Bags ₹467.25 Crore LOI for Two Coastal Research Vessels

Titagarh Rail Systems Limited has announced that it has received a Letter of Intent (LOI) from Garden Reach Shipbuilders & Engineers Ltd worth ₹467.25 crore. The LOI is for manufacturing two research vessels for Garden Reach Shipbuilders & Engineers. The research vessels will be used by the Geological Survey of India for coastal exploration and offshore research.

Titagarh Rail Systems is a rolling stock manufacturing company that manufactures railway wagons, coaches and is also engaged in shipbuilding projects. The company is headquartered in Kolkata and has ticker symbols TITAGARH on NSE and 532966 on BSE.

The LOI is classified under the Indian Register of Shipping. Titagarh Rail Systems has been given an execution timeline of 28 months from the date of receiving the LOI. The base order value of the project is ₹445 crore. Including GST of ₹22.25 crore, the total project value is ₹467.25 crore.

The project is a welcome sign for Titagarh as it will allow the company to expand its business beyond railways and into marine and shipbuilding projects. The company in February announced that it is planning to foray into new business lines, especially in shipbuilding and the marine business.

An order received from a PSU such as Garden Reach Shipbuilders & Engineers Ltd. (GRSE) also strengthens the credibility of the company and may allow for higher-value projects in the future. The project will also contribute significantly to the order book of the company and will provide revenue visibility for the next 28 months.

The shares of Titagarh Rail Systems began today’s trading session at ₹875.40, 2.37%, or 20.30 points higher than its previous close. It is expected that the shares may find support today based on the positive news.

REF: https://nsearchives.nseindia.com/corporate/TWL_21082025214830_DisclosuretoSELOI21082025.pdf

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