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Titagarh Wagons shines on raising stake in CEHPL to 99.23%

17 Apr 2014 Evaluate

Titagarh Wagons is currently trading at Rs. 129.55, up by 0.95 points or 0.74% from its previous closing of Rs. 128.60 on the BSE.

The scrip opened at Rs. 129.00 and has touched a high and low of Rs. 130.70 and Rs. 129.00 respectively. So far 6,762 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 179.80 on 20-May-2013 and a 52 week low of Rs. 69.85 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs. 137.95 and Rs. 123.75 respectively. The current market cap of the company is Rs. 259.00 crore.

The promoters holding in the company stood at 53.13% while Institutions and Non-Institutions held 4.82% and 42.05% respectively.

Titagarh Wagons has increased its stake in Cimco Equity Holdings (CEHPL) from 50% to 99.23%. Consequently, CEHPL has become its subsidiary company on and from April 15, 2014.

This is pursuant to conversion of 6,40,00,000 0% Optionally fully Convertible Debentures (OFCD) of Rs 10 each aggregating Rs 64 crore on April 15, 2014, the company’s stake has gone up from 50% to 99.23%.

Titagarh Wagons is engaged in manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. It also manufactures special wagons, shelters and other engineering equipment for the Indian defence establishment.

 

Titagarh Railsystems Share Price

741.05 3.85 (0.52%)
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