Titagarh Rail shares in news today post Q2 earnings; EPS nearly doubles YoY

Shares of multibagger Titagarh Rail Systems Ltd are in news today after the firm reported its earnings for the quarter ended September 2023. Shares of Titagarh Rail Systems were trading flat at Rs 816.50 in early deals today against the previous close of Rs 822.35 on BSE. Total 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 3.58 crore. Market cap of the firm stood at Rs 10,383 crore.

In the last one year, the Titagarh Rail Systems stock has surged 401%. The stock has rallied 258% in 2023. It hit a 52-week low of Rs 148.30 on November 2, 2022 and a 52 week high of Rs 867 on October 18, 2023.

The firm reported a 46.5% rise in net profit at Rs 70.6 crore in Q2 against a net profit of Rs 48.2 crore. Total revenue climbed 54.1% to Rs 935.5 crore in Q2 against Rs 607.1 crore in the corresponding period of the preceding fiscal. Earnings per share climbed to Rs 5.56 in the September 2023 quarter against Rs 3 in the September 2022 quarter.

Profit before tax zoomed 112% to Rs 94.39 crore in the last quarter against Rs 44.45 crore in the September 2022 quarter.

In terms of technicals, the relative strength index (RSI) of the stock stands at 64.5, signaling it's trading neither in the overbought nor in the oversold zone. Titagarh Rail Systems shares are trading higher than the 5 day, 10 day, 20 day, 30 day 50 day, 100 day, 150 day and 200 day moving averages.

Nine promoters held 44.97 per cent stake in the firm and 1,91,901 public shareholders owned 55.03 per cent or 6.99 crore shares at the end of September 2023 quarter.

Of these, 1.86 lakh resident individuals held 2.72 crore shares or 21.40% stake with capital up to Rs 2 lakh. Only 9 resident individuals with 1.88% stake held capital above Rs 2 lakh as on September 2023 quarter.

About the Company

Titagarh Rail Systems is engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment and bridges, and ships. The company operates through three segments: freight rolling stock, passenger rolling stock, and shipbuilding, bridges & defence.

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