Titagarh Rail Systems shares rise after CRISIL revises credit ratings

Shares of multibagger Titagarh Rail Systems gained 2% in early deals on Wednesday after CRISIL Ratings revised long-term and short-term ratings of the wagon maker. Titagarh Rail shares gained 1.91% to Rs 1649.20 on BSE today against the previous close of Rs  1618.15 on BSE. Market cap of the firm rose to Rs 22,019 crore. Total 27.22 lakh shares of the firm changed hands amounting to a high turnover of Rs 440.39 crore. 

Titagarh Rail stock has clocked multibagger returns of 235% in a year and zoomed 57.16% this year. The stock hit a 52-week low of Rs 481.85 on July 10, 2023 and rose to a 52 week high of Rs 1689.95 on June 24, 2024.     

It has a one-year beta of 1.3, indicating very high volatility during the period.   

In terms of technicals, the relative strength index (RSI) of the stock stands at 71.7, signaling it's trading in the overbought 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.          

The credit rating agency revised its long term rating to AA-/Stable from ‘CRISIL A+/Stable’. Similarly, the CRISIL revised its short term rating to CRISIL A1+ from CRISIL A1.

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.