Stock Report

Ramkrishna Forgings & Titagarh Wagons emerge L1 bidder for Manufacturing and Supplying of Forged Wheels for the Indian Railways

Posted On : 2023-03-15 17:22:35( TIMEZONE : IST )

Ramkrishna Forgings & Titagarh Wagons emerge L1 bidder for Manufacturing and Supplying of Forged Wheels for the Indian Railways

Ramkrishna Forgings Limited ("Company"), one of the leading suppliers of rolled, forged, and machined products, in consortium with Titagarh Wagons Limited has been declared the Lowest Bidder (L1) by the Ministry of Railways for manufacturing and supplying of forged wheels under the 'Atmanirbhar Bharat' initiative.

As recently announced by the Hon'ble Union Minister, Shri Ashwini Vaishnaw this tender is aimed at reducing the Indian Railway's import-dependence, by inviting the industry to set up a facility to produce these wheels, which will primarily be used for semi-high speed trains (Vande Bharat) and high-speed trains (bullet train).

Indian Railways has been focused on pursuing growth with emphasis on the Make in India policy under Atma Nirbhar Bharat initiative of the Government.

The Consortium of Ramkrishna Forgings and Titagarh Wagons, being L1, as the selected bidder would be required to set up a wheel test centre at a railway site for prototype testing of newly designed wheels.

The Consortium will set up a state-of-the-art manufacturing facility in India for forged wheel production and will supply approximately 1.6-million-wheel discs of different rolling stocks of Indian Railways over a period of 20 years at about 80,000 wheels per annum.

Mr. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said, "We are delighted to have been declared L1 in the bid for the manufacturing and supply of forged wheels for Indian Railways. This is a testament to our strong technical capabilities and our commitment to delivering high-quality products to our customers. Also, the partnership with Titagarh Wagons Limited is a strategic move towards expanding our presence in the railway segment and we are confident that our joint efforts will enable us to deliver world-class products and services to the Indian Railways."

Mr. Umesh Chowdhary, Vice Chairman & Managing Director, Titagarh Wagons Limited said, "It is a path breaking development and Titagarh Wagons as a leading supplier of Passenger & Freight Rolling Stock to the Indian Railways who are our largest customer, is ready for this opportunity to supply Forged Wheels and expand its footprint by further strengthening its capabilities in the railway rolling stock segment. We look forward to working in consortium with Ramkrishna Forgings Limited to leverage our synergies and increase our participation in "Atma Nirbhar" program of the Government of India and contribute to growth of the Indian Railways."

Shares of Titagarh Wagons Limited was last trading in BSE at Rs. 244.05 as compared to the previous close of Rs. 241.80. The total number of shares traded during the day was 87567 in over 3567 trades.

The stock hit an intraday high of Rs. 250.60 and intraday low of 243.10. The net turnover during the day was Rs. 21604099.00.

Source : Equity Bulls


TitagarhWagons INE615H01020 TWL RamkrishnaForgings Consortium L1 LowestBidder ForgedWheels