Titagarh Wagons’ Board Meeting to Raise Funds Today
Titagarh Wagons is expected to have a crucial day today as the company’s board meeting is scheduled for raising funds. The news of this meeting was already known to investors, which led to an 8% increase in the company’s share price on Friday. The intraday high of the company’s share was Rs. 427. It should be noted that Titagarh Wagons has received an order to manufacture 80 Vande Bharat trains in collaboration with BHEL.
Board Meeting on June 10, 2023
Titagarh Wagons has informed the stock markets that the company’s board meeting is scheduled for June 10, 2023, for approving the fund raising. Apart from the orders for Vande Bharat trains, the company has also received an order to manufacture 24,177 railway coaches, which has a budget of Rs. 7800 crore.
Share Price Gains Over 25% in a Month
During the last month, the share prices of Titagarh Wagons have witnessed a gain of over 25%. Investors who had bet on the company more than six months ago would have earned more than 100% returns. Those who had invested in the company’s shares a year ago would have earned a profit of up to 280% on every share. The company’s 52-week low level is Rs. 93.40 per share.
Investors are keeping a close watch on the board meeting today, as the company’s performance has been impressive in the past. The orders for manufacturing Vande Bharat trains and railway coaches are expected to bring in significant revenue for the company.
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