Why This Safir Anand Owned Railway Stock Is Up Today

Why This Safir Anand Owned Railway Stock Is Up Today

Shares of Titagarh Wagons jumped today after the company announced emerging as the lowest bidder for a Railway contract.

What Happened: Titagarh Wagons on Wednesday announced that a consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited has emerged as the ‘Lowest Bidder’ for the Manufacturing and Supply of Forged Wheels.

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The contract comes under the Aatma-Nirbhar Bharat initiative of the Ministry of Railways, Government of India. “The total quantity of Forged Wheels to be supplied will be around 15,40,000 wheels over a period of 20 years,” the company said in a regulatory filing.

Trade strategist and investor Safir Anand who is invested in the stock recently tweeted his support for the company as it won a bid to build trainsets. The value investor had then said that with the way railways are expanding, he would advise staying invested.

Price Action: Titagarh Wagons shares were up around 0.60% to trade at ₹243.25. RK Forgings was up 7.42% to trade at ₹285.15 in the late hours of trading on Wednesday.

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