Titagarh Rail Systems Share Price Soars by 8% to Rs. 1,216.30 After Strong Quarterly Results
Government-owned railway company Titagarh Rail Systems saw a significant increase in its share price on Thursday, May 16th, with shares trading at Rs. 1,216.30, up by 8%. The company reported a remarkable 63.66% growth in net profit for the March 2024 quarter, totaling Rs. 78.95 crore.
Morgan Stanley Overweight Rating and Target Price Announcement
Global brokerage firm Morgan Stanley has given an overweight rating to Titagarh Rail Systems company shares. On Friday, May 17th, the shares were trading 3.70% higher at Rs. 1,257.25. The brokerage house has announced a target price of Rs. 1,285, advising investors to consider investing in the company’s shares.
Impressive Returns for Investors
Over the past four years, Titagarh Rail Systems has delivered a remarkable 3700% return to its investors. The share price has surged from Rs. 31.60 on May 15, 2020, to Rs. 1,216.30 on May 16, 2024, showcasing a significant growth trajectory. In the last three years alone, investors have earned a return of 2400%.
Steady Growth and Strong Performance
The company’s shares have consistently outperformed, reaching a 52-week high of Rs. 1,249 and providing a 270% return to investors in the past year. With a low of Rs. 321, Titagarh Rail Systems shares have shown resilience and growth potential.
On May 16, 2023, shares were trading at Rs. 327.30, and within a year, the price has surged to Rs. 1,216.30, highlighting the company’s strong performance and investor confidence.
Recent Market Performance and Future Outlook
Since March 20, 2024, when shares were trading at Rs. 823.65, the company has provided investors with over 45% returns in just two months. The consistent growth and positive market sentiment indicate a bright future for Titagarh Rail Systems.
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