Titagarh Wagons

Titagarh Wagons Ltd on Saturday said its plant in Italy has rolled out the first train for Pune Metro coach, out of the 34 trains.

Shares in the other Asian markets stepped back from decade highs on Tuesday.

Ruchit Jain, Equity Technical Analyst, Angel Broking recommends buying Hindustan Unilever with stop loss below Rs 935 for target of Rs 1,045.

The Union Cabinet yesterday approved a massive line expansion programme that includes nine projects of track construction for a total length of 1,937.38 km at an estimated cost of Rs 20,867.24 crore.

Shares of companies involved in the defence sector such as Reliance Defence, BEML, Bharat Electronics, Rolta, Reliance Infrastructure, Titagarh Wagons and Bharat Forge moved higher in an otherwise weak market after the government cleared new procurement policy.

Railways wants to spend Rs 8.5 lakh crore over five years towards modernisation of railway infrastructure.

Rail stocks have been in the limelight despite the subdued performance of the Indian stocks markets. Analysts say that higher government spending and a flurry of recent announcements by the Railways have lifted the sentiment in these stocks.

Under the merger, all assets and liabilities of the subsidiaries will be transferred to Titagarh Wagons, but no fresh shares will be issued on amalgamation since the amalgamating companies are wholly owned subsidiaries of the company.

The transaction entails transfer of technology, all tangible and intangible assets and some liabilities relating to ongoing orders, the company added.

Wagon manufacturer Titagarh Wagons on Monday said its board has approved the allocation of 1.5 crore shares to raise Rs 150 crore through qualified institutional placement.

Wagon manufacturer Titagarh Wagons on Thursday said it will raise up to Rs 250 crore by selling securities to institutional investors.

Titagarh said it plans to take all steps for the purpose expeditiously subject to such other formalities or compliances as may be applicable in this respect.

The other big gainer was Kernex Microsystems, which was locked at its day high of Rs 44.55, up nearly 5 per cent.

Companies prefer to go for stock split when share prices go up substantially, making it difficult for retail investors to invest in the stock. Post stock split, liquidity of a share increases as lower market price attracts more retail investors.

BEML fell 1.65 per cent, Kalindi Rail Nirman slumped 4 per cent, Stone India tanked 6 per cent. Other railway infra related stocks like Kernex Microsystem and Texmaco ended 0.75 per cent and 2.4 per cent lower.

Titagarh Wagons Ltd on Saturday said its plant in Italy has rolled out the first train for Pune Metro coach, out of the 34 trains.

Shares in the other Asian markets stepped back from decade highs on Tuesday.

Ruchit Jain, Equity Technical Analyst, Angel Broking recommends buying Hindustan Unilever with stop loss below Rs 935 for target of Rs 1,045.

The Union Cabinet yesterday approved a massive line expansion programme that includes nine projects of track construction for a total length of 1,937.38 km at an estimated cost of Rs 20,867.24 crore.

Shares of companies involved in the defence sector such as Reliance Defence, BEML, Bharat Electronics, Rolta, Reliance Infrastructure, Titagarh Wagons and Bharat Forge moved higher in an otherwise weak market after the government cleared new procurement policy.

Railways wants to spend Rs 8.5 lakh crore over five years towards modernisation of railway infrastructure.

Rail stocks have been in the limelight despite the subdued performance of the Indian stocks markets. Analysts say that higher government spending and a flurry of recent announcements by the Railways have lifted the sentiment in these stocks.

Under the merger, all assets and liabilities of the subsidiaries will be transferred to Titagarh Wagons, but no fresh shares will be issued on amalgamation since the amalgamating companies are wholly owned subsidiaries of the company.

The transaction entails transfer of technology, all tangible and intangible assets and some liabilities relating to ongoing orders, the company added.

Wagon manufacturer Titagarh Wagons on Monday said its board has approved the allocation of 1.5 crore shares to raise Rs 150 crore through qualified institutional placement.

Wagon manufacturer Titagarh Wagons on Thursday said it will raise up to Rs 250 crore by selling securities to institutional investors.

Titagarh said it plans to take all steps for the purpose expeditiously subject to such other formalities or compliances as may be applicable in this respect.

The other big gainer was Kernex Microsystems, which was locked at its day high of Rs 44.55, up nearly 5 per cent.

Companies prefer to go for stock split when share prices go up substantially, making it difficult for retail investors to invest in the stock. Post stock split, liquidity of a share increases as lower market price attracts more retail investors.

BEML fell 1.65 per cent, Kalindi Rail Nirman slumped 4 per cent, Stone India tanked 6 per cent. Other railway infra related stocks like Kernex Microsystem and Texmaco ended 0.75 per cent and 2.4 per cent lower.