Titagarh Rail Systems rises on launching second Diving Support Craft for Indian Navy

Under the Make in India initiatives of the Ministry of Defence, the company is building five such DSCs for the Indian Navy.

On Tuesday, Titagarh Rail Systems shares closed at Rs 761.30, up by 2.65% from its previous closing of Rs 741.65 on the BSE.

Titagarh Rail Systems (TRSL) has launched the second indigenous Diving Support Craft (DSC) built at its facility in Titagarh, Barrackpore, for the Indian Navy. Diving Support Crafts are catamaran-type vessels, with required main and auxiliary equipment sourced from indigenous manufacturers. Under the Make in India initiatives of the Ministry of Defence, TRSL is building five such DSCs for the Indian Navy. The first DSC was launched in August 2023.

Fitted with the latest diving equipment, the DSCs will meet the mission needs of Command Clearance Diving Teams (CCDTs) that are involved in providing diving assistance to all ships inside and close to the harbour for underwater repair, maintenance, and salvage. These ships will also serve as the ideal platform for conducting training of the Indian Navy’s diving cadre.

Incorporated in 1997, Titagarh Rail Systems (formerly known as Titagarh Wagons) caters to both domestic and export markets. The company is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Steel Castings, Specialised Equipments & Bridges, Ships, Heavy Earthmoving and Mining Equipments, etc.

Today, the stock opened at Rs 749.85 and has touched a high and low of Rs 768, and Rs 740.05, respectively. The BSE group ‘A’ stock of face value of Rs 2 has a 52-week high and low of Rs 867 and Rs 148.30, respectively.

Last one week high and low of the scrip stood at Rs 799.85 and Rs 703.80, respectively. The current market cap of the company is Rs 9,681.54 crore. The promoters holding in the company stood at 44.97%, while Institutions and Non-Institutions held 27.31% and 27.72% respectively.

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