Shares of Titagarh Rail Systems (TRSL) hit a new high of Rs 529.20 as they rallied 5 per cent on the BSE in Wednesday’s intra-day trade after the company announced that it has received Letter of Acceptance (LoA) for order value of about Rs 857 crore from Gujarat Metro Rail Corporation (GMRC).
The LoA is for design, manufacture, supply, testing, commissioning, and training of 72 numbers of standard gauge cars for Surat Metro Rail Phase-I Project I. The order value is about Rs 857 crore, and execution would start 76 weeks after signing the contract. It is scheduled to be completed in 132 weeks thereafter, TRSL said in an exchange filing.
