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Tuesday, October 22, 2024 2:35:00 PM   
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Tech Mahindra  1701.40  (0.30)  
 
Titan Company  3334.20  (-28.60)  
 
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COMPANY NEWS


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Titagarh Rail Systems Ltd
Engineering
BSE Code 532966 ISIN Demat INE615H01020 Book Value 165.45 NSE Symbol TITAGARH Div & Yield % 0.07 Market Cap ( Cr.) 15,338.67 P/E 51.03 EPS 22.32 Face Value 2
Titagarh commences production of trainsets for Bangalore Metro Back
(15 Jun 2024)

Titagarh Rail Systems (TRSL) has commenced the production of trainsets as part of a contract with China Railway Rolling Stock Corporation (CRRC) for the Bangalore Metro Rail Corporation (BMRCL) Phase 2 Yellow Line project. This marks a significant milestone in Titagarh's ongoing contribution to India's urban transportation infrastructure.

The contract between BMRCL and CRRC Nanjing Puzhen Co Ltd, signed in December 2019, encountered challenges, which led to delays in meeting the original deadlines. To address the delay in the rolling stock supply, CRRC sought additional time and subsequently entered into a Memorandum of Understanding (MoU) with Titagarh Rail Systems.

Under this MoU, Titagarh will manufacture the trainsets at its state-of-the-art facility in Uttarpara. Under the agreement with BMRCL, Titagarh is responsible for producing 34 of the 36 trainsets needed for the Yellow Line at its advanced manufacturing facility. Only two trainsets, comprising 12 coaches, will be manufactured in China. To meet the specific requirements of the project, Titagarh has established a dedicated stainless steel production line at its facility. Production began on May 18th, 2024, and the first trainset is slated for delivery in August 2024.