Titagarh Rail Systems Ltd secures LOI from GRSE for ship construction

Titagarh Rail Systems Limited has secured a Letter of Intent (LOI) from Garden Reach Shipbuilders & Engineers Ltd. for Ship Construction of 02 (two) Vessels. The Vessels will be built for Garden Reach Shipbuilders & Engineers Ltd. intended for use by Geological Survey of India. The Ships are research vessels for use in Coastal Exploration. The main activities of the vessels shall include:

- Offshore geological mapping
- Mineral Exploration, including dredging
- Ocean Environment monitoring and research
- Shipboard data processing and sample analyses in modern, well-equipped scientific laboratories.

The order is valued at ₹445 crore, plus ₹22.25 crore towards GST, aggregating to a total order value of ₹467.25 crore. The vessels will be built under the classification regulations of Indian Register of Shipping.

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 2580.85 as compared to the previous close of Rs. 2564.05. The total number of shares traded during the day was 123853 in over 9479 trades.

The stock hit an intraday high of Rs. 2644.45 and intraday low of 2546.00. The net turnover during the day was Rs. 321864836.00.

Shares of Titagarh Rail Systems Limited was last trading in BSE at Rs. 855.45 as compared to the previous close of Rs. 833.70. The total number of shares traded during the day was 82062 in over 3520 trades.

The stock hit an intraday high of Rs. 859.35 and intraday low of 833.75. The net turnover during the day was Rs. 69738093.00.

Source : Equity Bulls

Keywords

TitagarhRailSystems INE615H01020 OrderWin LOI ShipConstruction INE382Z01011 GRSE GardenReachShipbuildersandEngineers