Titagarh Wagons Limited (Titagarh), an Indian leader in design and manufacture of modern rolling stock, on 30th July, 2021, hold a virtual ceremony to mark the flagging off of its first train manufactured for Pune Metro (Maharashtra Metro Cooperation). The flagging off of the event was conducted by H E the Ambassador of India to Italy - Dr. Neena Malhotra, H E Ambassador of Italy to India Mr. Vincenzo de Luca and the Managing Director of Maharashtra Metro Cooperation - Dr. Brijesh Dixit in virtual presence of several other dignitaries from India and Italy.
Titagarh Wagons alongwith its subsidiary Titagarh Firema S.p.A signed the first contract for design, manufacture and supply of 34 trains of 3 coaches each to Maha Metro on 12th September 2019. Under this contract, the first 3 trains are to be built in Titagarh's plant in Caserta, Italy and the balance 31 trains will be manufactured in Titagarh's plant in India.
In another event held in the morning, the Dy. Chief Minister of Maharashtra, Sri Ajit Pawar inaugurated the mock-up of the Pune Metro coach in presence of other local dignitaries.
These ultra-modern metro coaches combine the highest safety standards with modern Italian styling and are not only light weight, resulting in low carbon emission and fuel efficiency but also offer the most modern safety and convenience features in the trains.
Titagarh Firema S.p.A has been a leading designer and manufacturer of rolling stock in Europe with decades of experience as one of the largest, most modern manufacturing facilities in Europe.
Titagarh Wagons has also newly upgraded and modernised its plant in Kolkata to produce the balance 31 trains in @ state of the art facility, 'which is fully compliant with Industry 4.0 standards. The production of the first coach in India has already started and Titagarh is expected to deliver the first train from its Indian plant by the end of this year. The total contract for 34 trains is valued at an approximate cost of 1100 crores is likely to be executed by the end of the financial year FY 2023.
Speaking on the occasion, Mr. Umesh Chowdhary, Vice Chairman & Managing Director of Titagarh said "We began our journey to manufacture passenger trains (EMU) in India in 2007 with a dream to design and manufacture modern passenger trains for the Indian Metro System. With this first train being constructed by us for Maha Metro, it is a moment of great pride and satisfaction for Titagarh and a dream come true for me personally." Mr. Chowdhary thanked the dignitaries present on the virtual platform for their encouragement and support and also expressed his gratitude and compliments to the entire Titagarh team in India and Italy who worked tirelessly to reach to this momentous occasion. Mr. Sunil Mathur - Director Rolling Stock complimented Titagarh for being able to design and manufacture a completely new train in such a short time inspite of the hardships faced on account of the global pandemic. He appreciated the modern and safety features inbuilt into the train and complimented Titagarh team for this major milestone achievement.
H E Ambassador of India to Italy, Dr. Neena Malhotra while complimenting Titagarh said that India has a huge demand for new modern rolling stock and metro coaches and encouraged Titagarh to explore more such opportunities such as Pune Metro in order to participate in the nation building process. Mr. Francesco Varriale who spoke on behalf of the Italian Ambassador, stated that Titagarh was a flag bearer of the Indo Italian cooperation and applauded the efforts of Titagarh Wagons Limited and Titagarh Firema S.p.A for their joint cooperation.
Mr. Chowdhary stated that Titagarh was committed towards the 'Make in India' and Aatmanirbhar Bharat programs of the Government and mentioned that Titagarh has set up an integrated design centre between India and Italy which would enable Titagarh not only to Make in India, but to design and manufacture in India. He reiterated Titagarh's vision of becoming a global player for different mobility solutions and was confident that this milestone of the first train coming out of Indo Italian partnership would become a foundation for future global successes.
Shares of TITAGARH WAGONS LTD. was last trading in BSE at Rs. 79.5 as compared to the previous close of Rs. 81.1. The total number of shares traded during the day was 195039 in over 1767 trades.
The stock hit an intraday high of Rs. 81.75 and intraday low of 79.25. The net turnover during the day was Rs. 15697886.