Titagarh Wagons Limited’s wholly-owned subsidiary, Titagarh Singapore Pte Ltd. (TSPL) has acquired the shares held by Adler Plastic SpA, Italy, representing 10% of the total paid-up share capital of Titagarh Firema Adler SpA (TFA), a subsidiary of the company.
As a result of the above, TFA has become a wholly-owned subsidiary of the company in which the company holds 1.8% directly and balance 98.2% is now held by TSPL.
Titagarh Wagons Limited moved in negative territory in the morning hours and touched an intraday low of Rs 117.9 per share, down by nearly 2.8%.
The company is engaged in the manufacturing and selling of railway wagons, steel castings, heavy earth moving and mining equipment, bailey bridges, electric multiple unit (EMU) and non-ferrous metal alloys, among others. It operates through two business segments: wagons & coaches, and others.
The company is also engaged in finance, hire purchase and leasing, and ship building, ship breaking, shipping, marine engineering, naval architecture and ocean engineering.
Stock View:
Titagarh Wagons Ltd is currently trading at Rs 117.35, down by Rs 3.9 or 3.22% from its previous closing of Rs 121.25 on the BSE.
The scrip opened at Rs 121.6 and has touched a high and low of Rs 122.45 and Rs 117.35 respectively. So far 657903(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1399.78 crore.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 135.75 on 20-Dec-2016 and a 52 week low of Rs 85.65 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 122.3 and Rs 113.3 respectively.
The promoters holding in the company stood at 45.79 % while Institutions and Non-Institutions held 24.2 % and 30.01 % respectively.
The stock is currently trading below its 50 DMA.
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