BHEL, Titagarh Wagons shares in demand on receiving Rs 9,600 crore Vande Bharat trains order from Railways

A consortium led by state-owned Bharat Heavy Electricals Ltd (BHEL) has bagged an order worth more than Rs 9,600 crore to supply 80 sleeper class Vande Bharat trains to Indian Railways over a period of six years.

The consortium, comprising BHEL and Titagarh Wagons, is called BHEL-Titagarh Wagons. | Image: Pixabay

BHEL and Titagarh Wagons were in high demand on Wednesday, after the companies as a consortium won a tender worth more than Rs 9,600 crore from Indian Railways. The mega order requires the consirtium to supply 80 sleeper class Vande Bharat trains to Indian Railways over a period of six years. The 80 Vande Bharat trains are valued at more than Rs 23,000 crore excluding taxes and duties, and the order includes maintenance of the trainsets for 35 years, according to a company statement.

BHEL shares gained as much as 3.3 per cent to Rs 74.3 apiece on BSE after the announcement — their highest intraday level since March 24. Titagarh Wagons shares surged 7.7 per cent to a 52-week high of Rs 310 apiece on the bourse.

Titagarh Wagons is an Indian private shipbuilder, defense and railway wagon manufacturing company. The Kolkata-based Titargarh Wagons manufactures coaches for Indian Railways, besides bailey bridges and mining equipment.

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BHEL is one of the largest engineering and manufacturing companies in India. It is engaged in the designing, engineering, construction, testing, commissioning and servicing of a wide range of products, and provides a sew of services with more than 180 product offerings.

Zee Business Analyst Varun Dubey recommended buying BHEL futures and Titagarh Wagons. He had advised adding shares of BHEL and Titagarh for a target of Rs 75 and Rs 300 apiece respectively.

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