TITAGARH

** India's Titagarh Rail Systems TITG.NS, which makes railway wagons and other components, down 4.27% to 742.85 rupees

** Stock at lowest level since August 2023

** Morgan Stanley cuts PT to street-low of 1,090 rupees from 1,300 rupees, but maintains 'overweight' rating on India's healthy long term infra capex

** Brokerage says near term orders from Indian Railways subdued against the pickup anticipated post election

** Adds, passenger segment execution delayed 9 months due to change in the car design plan of Vande Bharat, India's semi-high speed express rail service

** Flags, co's passenger segment has won no orders since Oct 2023

** In freight segment, inadequate supply of wheel sets from Indian railways constrain Q3 wagon production - MS

** Stock rated 'buy' on avg by 7 analysts; median PT at 1217 rupees

(Reporting by Ananta Agarwal in Bengaluru)

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BENGALURU, Feb 13 (Reuters) - Diary of India economic, corporate events on Feb 13

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** Shares of Indian railway infra-linked cos Rail Vikas RAIV.NS, Ircon International IRCN.NS, Titagarh Rail TITG.NS, Indian Railway Finance Copr INID.NS, Texmaco Rail TEXA.NS, RailTel RAIT.NS drop 4%-7%

** Road infra-linked cos Larsen & Toubro LART.NS, IRB Infra IRBI.NS, G R Infraprojects GINF.NS, HG Infra HGIN.NS, KEC International KECL.NS also lose 4%-7%

** FY26 capex set at 11.2 trln rupees ($128.58 bln), up 10% Y/Y

** Infra-related capex growth for FY2026 is underwhelming, says J.P.Morgan

** Adds, railways and road capex growth remains flat for the fiscal

** Says, almost the entire growth in FY26 capex driven by investment in items unrelated to infra, including investment in international financial institutions, other economic services

** Infra-linked stocks have been biggest losers in benchmark and sectoral indexes on Saturday and Monday

** Nifty infrastructure index .NIFTYINFR down 3.2% in two sessions vs 0.8% drop in Nifty 50

($1 = 87.1075 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Titagarh Rail Systems TITG.NS rises as much as ~4% to 1,129.95 rupees

** Co delivers driverless trainset to Bengaluru Metro Rail Corporation's (BMRCL) Yellow Line

** Says two more trains will be delivered to the line by April 2025, after which TITG will "ramp up production, delivering two trains a month by September, 2025"

** Stock rated "buy" on avg; median PT is 1,540 rupees - LSEG

** TITG gained 5.9% in 2024, rising for fifth straight year

(Reporting by Meenakshi Maidas in Bengaluru)

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July 30 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• JUNE-QUARTER CONSOL NET PROFIT 670.1 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 9.03 BILLION RUPEES

Source text for Eikon: ID:nBSE1lFN2y

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** Shares of Titagarh Rail Systems TITG.NS rise 3.1% to 1,637 rupees apiece

** Rises after the railway wagons and components maker commences export of eight traction converters to Italian unit Titagarh Firema

** Export is part of an order worth 7.14 million euros ($7.73 million) received from Titagarh Firema

** TITG will supply traction converters for 11 trains to Titagarh Firema

** The export also marks the first rollout of traction converters from passenger rolling stock facility of TITG in India

** TITG shares up 57% in 2024 so far, according to exchange data

($1 = 0.9234 euros)

(Reporting by Bharath Rajeswaran in Bengaluru)

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July 23 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• BEGINS EXPORT OF TRACTION CONVERTERS

Source text for Eikon: ID:nBSEcfjtYx

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** Shares of India's Titagarh Rail Systems TITG.NS up 7.9% after rising as much as ~9% earlier in the session

** TITG rebounds after slumping 25% over last two sessions

** Co said it launched a new engineering centre in Bengaluru city

** Separately, markets bet that capex spending of incoming government will continue, benchmarks add ~1% .BO

** Rival Texmaco Rail & Engineering TEXA.NS also up 6.8%

** YTD TITG has gained ~15%

(Reporting by Hritam Mukherjee in Bengaluru)

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** India's rail-linked stocks log sharp early losses while vote count for India elections gets underway

** Analysts say PM Modi-led alliance's early lead in vote count "below expectations", benchmark Nifty 50 .NSEI opened 2% lower on the day .BO

** Wagon makers Texmaco Rail & Engineering TEXA.NS and Titagarh Rail Systems TITG.NS slump 5.7% each

** Railway and metro coaches maker BEML BEML.NS loses 3.2%, Indian railways' financing arm Indian Railway Finance Corp INID.NS drops 3.3%

** TEXA, TITG, BEML and INID added between 4.5%-6.3% in last session, after weekend exit polls predicted landslide victory for Modi

** Infra and manufacturing-linked stocks seen as key beneficiaries of predicted third-term win for Modi, analysts had said

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Titagarh Rail Systems TITG.NS up as much as 9.4% to a record high of 1,217 rupees

** The railway wagon maker reported a 63.7% Y/Y rise in its March-qtr consolidated net profit to 789.5 mln rupees ($9.5 mln)

** Revenue from operations rose 8% Y/Y to 10.52 bln rupees

** More than 3.4 mln shares changes hands, 2.7x its 30-day avg

** TITG stock on track for a third straight session of gains, if current trend holds

** Average rating of seven analysts covering the stock is "buy"; median PT is 1,252 rupees - LSEG data

** Including session's gains, stock up 13.6% this year, outpacing the 7% rise in the Nifty 500 index .NIFTY500

($1 = 83.4575 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 15 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• TITAGARH RAIL SYSTEMS LTD MARCH-QUARTER CONSOL NET PROFIT 789.5 MILLION RUPEES VERSUS 482.4 MILLION RUPEES

• TITAGARH RAIL SYSTEMS LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 10.52 BILLION RUPEES VERSUS 9.74 BILLION RUPEES

Source text for Eikon: ID:nBSE8bSDJG

Further company coverage: TITG.NS

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** Shares of Titagarh Rail Systems TITG.NS rise 6.7% to a three-month high of 1102.55 rupees

** Morgan Stanley starts with "overweight" and 1,285 rupees PT, which is 2nd-highest among seven analysts

** MS expects the train parts maker to be major beneficiary of revival in India's railways

** Says passenger coach business, whose earnings potential "markets are not factoring in yet", will be new growth engine

** Analysts' avg rating on TITH is "buy"; median TP is 1,252 rupees -LSEG data

** TITG shares up 6.4% so far in 2024 compared to 9.3% rise in small-cap 100 index .NIFSMCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Any sharp sell-off in mid-caps from current levels seems unlikely and will be used as buying opportunity, says HSBC

** Lists FSN E-Commerce FSNE.NS, Equitas Small Finance Bank EQUI.NS, Titagarh Rail Systems TITG.NS, Prestige Estates Projects PREG.NS, Phoenix Mills PHOE.NS, Ipca Laboratories IPCA.NS, Voltas VOLT.NS and Kalyan Jewellers KALN.NS as its top mid-cap ideas

** The ongoing corrections in India's broader, more domestically-focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100, prompted by markets regulator's warning of 'frothy' valuations, could still deepen, according to HSBC

** Small- and mid-caps have lost 6.6% and 3.2%, respectively, in March, compared with 0.2% rise in benchmark Nifty 50 .NSEI

** HSBC says current context is relatively more favourable compared with sell-off in 2018 due to improved macroeconomic fundamentals, relative valuation comfort in small- and mid-caps and support from strong retail inflows

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Stocks of Titagarh Rail Systems TITG.NS rise as much 7.9% to 969.85 rupees, last up 3.4%

** The wagons and vehicle control systems maker got a contract worth 19.09 billion rupees (about $231 mln) on March 7

** Stock was down 14.2% in February, snapping three consecutive months of gains

($1 = 82.6750 Indian rupees)

(Reporting by Anisha Ajith in Bengaluru)

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Feb 22 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• CO INVESTED IN EQUITY CAPITAL OF SHIVALIKS MERCANTILE, JV-SPV OF CO

• CO INVESTED IN EQUITY CAPITAL OF SHIVALIKS MERCANTILE, ABOUT 1 BILLION RUPEES

• SHIVALIKS ACQUIRED 28.23% ADDITIONAL STAKE IN UNIT TITAGARH FIREMA S.P.A, ITALY

• INVITALIA, INVESTMENT ARM OF GOVERNMENT OF ITALY ALSO MADE FRESH INVESTMENT OF EURO 10 MILLION IN FIREMA

• SHIVALIKS ACQUIRED 28.23% ADDITIONAL STAKE IN FIREMA FOR EURO 20.21 MILLION

Source text for Eikon: ID:nBSE52wdwp

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** Shares of Titagarh Rail Systems TITG.NS rise 6.7% to 1,022 rupees

** Railway wagon maker said it got order worth 1.7 bln rupees ($20.5 mln) from Ministry of Defence

** Order to manufacture and supply 250 specialized wagons

** Avg rating of five analysts equivalent of 'strong buy;' median PT is 1,233.50 rupees - LSEG

** No analyst has a rating below equivalent of 'buy;' PTs at least 21% above current trading price

** TITG trading above its 200-day simple moving avg since July, 2022

** However, stock down 12% so far in February, after three consecutive months of gains

($1 = 82.9830 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Indian Railway Finance Corp INID.NS, BEML BEML.NS, Texmaco Rail TEXA.NS up between 1% and 4%

** India's Finance Minister says in budget speech 40,000 normal rail coaches to be converted into Vande Bharat standards

** INID and BEML among companies who won Vande Bharat contracts in 2023

** BEML's 3.5% climb the highest with INID and TEXA rising 1.7% and 1.5%

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Amber Enterprises India AMBE.NS and Titagarh Rail Systems TITG.NS up 2.3% and 1.5%, respectively

** Consumer durables maker Amber says Amber group and railway wagon maker Titagarh partner to enter train components and subsystems business in India and Italy

** Both parties to invest upto 1.2 billion rupees each

** AMBE shares climbed 66% in 2023, while TITG rose 367% during the same period

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Titagarh Rail Systems TITG.NS rise as much as 3.5% to 1,085 rupees

** Engineering firm launches bollard pull tug vessel, which will carry out operations for Indian Navy

** TITG was trading 1.5% higher before the news

** Stock on track to rise for third straight month

** TITG has been above its 100-day and 200-day SMAs since July 2022, suggesting bullish sentiment

** Avg analyst rating is "strong buy", median PT is 1,036 rupees, ~4% lower than current price - LSEG data

** Stock rose 366.7% in 2023, gaining most in a year since its listing in 2008

** TITG rose for four consecutive years until 2023

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 15 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• TITAGARH RAIL SYSTEMS- RAISES 7 BILLION RUPEES THROUGH QIP

  
  

Source text for Eikon: [ID:]

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Dec 14 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• TITAGARH RAIL SYSTEMS LTD - RAISES AROUND 7 BILLION RUPEES THROUGH QIP

Source text for Eikon: ID:nNSE62rqJF

Further company coverage: TITG.NS

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** Shares of Titagarh Rail Systems TITG.NS rise as much as 9.5% to a record high of 1,025 rupees and ABB India ABB.NS up 1.7%

** ABB, which makes factory robots, automation systems, said on Monday it formed a partnership for metro projects in India with railway wagon maker TITG

** Both cos will supply propulsion systems for metro projects in India

** TITG shares up 353% so far this year including Tuesday's gains, while ABB stock up 64% YTD

(Reporting by Nallur Sethuraman in Bengaluru)

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Nov 20 (Reuters) - ABB India Ltd ABB.NS:

• ABB FORMS STRATEGIC PARTNERSHIP WITH TITAGARH FOR METRO PROJECTS IN INDIA

Source text for Eikon: [ID:]

Further company coverage: ABB.NS

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** Shares of Titagarh Rail Systems Ltd TITG.NS rise as much as 18.7% to hit a record 995 rupees

** Rolling stock manufacturer marks biggest intraday gain since Jan, 2022

** Stock trading above its 50-day, 100-day and 200-day moving averages

** Reason for the move was not immediately clear

** Earlier this month, co approved raising 7 billion rupees ($84.1 million) through a qualified institutions placement of shares; stock up ~15% since

** Analysts' average rating is equivalent of "buy;" median PT is 970 rupees - LSEG data

** More than 11.8 mln shares change hands, highest volumes since Feb 2016

** Stock last up 11.2%, taking YTD gains to over 300%

($1 = 83.2750 Indian rupees)

(Reporitng by Nishit Navin)

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Oct 20 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• INKS CONTRACT WITH GUJARAT METRO RAIL CORP FOR 3.5 BILLION RUPEES

• INKS CONTRACT FOR AHMEDABAD METRO RAIL PHASE-II PROJECT

Source text for Eikon: ID:nBSE2W5kT3

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Oct 18 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• INDIA'S TITAGARH RAIL SYSTEMS SEPT-QUARTER CONSOL NET PROFIT 705.9 MILLION RUPEES VERSUS PROFIT 482.1 MILLION RUPEES

• TITAGARH RAIL SYSTEMS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.35 BILLION RUPEES VERSUS 6.07 BILLION RUPEES

Source text for Eikon: ID:nBSE24DpTd

Further company coverage: TITG.NS

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** Shares of Titagarh Rail Systems up as much as 4.4% at 803.90 rupees

** Vehicle control systems maker signs a 8.57 bln rupees ($103 mln) contract with Gujarat Metro Rail Corporation for manufacturing 72 standard gauge cars

** Stock set to snap three consecutive sessions of losses, if gains hold

** Avg rating of all six analysts tracking TITG at "strong buy"; their median PT is 782 rupees - LSEG data

** Including day's move, stock up 3.5x YTD

($1 = 83.2325 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Oct 3 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• SIGNED CONTRACT FOR DESIGN OF 72 STANDARD GAUGE CARS FOR SURAT METRO RAIL PHASE I PROJECT

• ORDER VALUE FOR PROJECT 8.57 BILLION RUPEES

Further company coverage: TITG.NS

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** Shares of vehicle control systems maker Titagarh Rail Systems TITG.NS rise as much as 5.47% to 785 rupees, sharpest intraday pct gain in a week

** Stock on track for second consecutive session of gains, if trend holds

** TITG launches its first diving support craft that will serve as a training platform for Indian navy

** More than 1.3 mln shares change hands by 14:41 p.m. IST, 0.8x the 30-day avg

** Stock up ~232.9% so far this year

(Reporting by Anisha Ajith in Bengaluru)

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Aug 30 (Reuters) - Titagarh Rail Systems Ltd TITG.NS:

• GETS ORDER FOR VALUE ABOUT 3.50 BILLION RUPEES

• GETS LOA FROM FROM GUJARAT METRO RAIL CORPORATION

Source text for Eikon: ID:nBSEHcnqK

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