Titagarh Wagons’ share price surged up over 14% on Thursday to touch a new 52-week-high of ₹343.70.
What Happened: The railway stock has been having a great time at the bourses. TWL’s share price has gone up over 40% in the last month. The surge today comes as latest shareholding data revealed that ace investor Madhusudhan Kela-backed firm Mahima Stocks has bought a 1.65% stake in the company. The company has bagged several orders in the last few weeks.
Just yesterday, B&K Securities initiated coverage on the stock with a ‘buy’ rating. The firm has a price target of ₹404 in the Safir Anand-invested stock. The target price implies an over 30% upside from the stock’s last closing price of 300.35. The firm stated that it expects the company’s sales/earnings to grow at a CAGR of 41%/45% for the period FY22-25.
Brokerage firm Nuvama also maintained its ‘buy’ rating for the stock in its late research report assigning a price target of ₹346. The company had last week announced getting a contract from the Indian Railways in partnership with Bharat Heavy Electronics Ltd. The consortium of BHEL and TWL will manufacture and supply 80 Sleeper Class Vande Bharat Trainsets at ₹120 crore per set.
Price Action: TWL share price was up 9.64% to trade at ₹329.30 in the early hours of trading on Thursday.
Get all the latest Share Market trends and news to set you up for the week ahead.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.