Date of Post: 19 Feb, 2019
Titagarh Wagons announced new order win by its Italian subsidiary worth about Rs 1,740.60 crore for design, manufacture and supply of 54 units of Metro from Ferrovia Circumetnea, Italy. Titagarh Wagons fresh order is almost three times its current market cap of Rs 678.15 crore on Bombay Stock Exchange.
- “Titagarh Firema SPA, the wholly owned subsidiary of the company in Italy, has been awarded the ‘Letter of Acceptance’ for design, manufacture and supply of 54 units of Metro for Ferrovia Circumetnea, Italy. The total value of the LoA is Euro 216 million only equivalent to INR 1740.60 crore approx.,” in a statement to the stock exchanges Titagarh Wagons said.
- Kolkata based Titagarh Wagons is the largest private sector company that manufacture coaches for the Indian railways, bailey bridges, and mining equipment.
- Titagarh Wagons’ subsidiary Titagarh Firema SPA, Italy a wholly owned subsidiary of Titagarh Wagons is in to design and manufacture of passenger rolling stock.
- The company informed stock exchange that the order book of the Italian subsidiary of Titagarh Wagons after including the above order stands at Euro 320 million, equivalent to Rs 2,578.56 crore approximately.
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