ABB India, Titagarh Rail shares rally up to 4%: Firms sign pact for metro projects; check details

ABB India shares rallied as much as 3.87% to hit a high of ₹4,890 apiece on the NSE while Titagarh Rail advanced 2.75% to a high of ₹801.90.

Under the agreement, ABB India will support the design, manufacture, supply, testing, installation supervision and commissioning of propulsion systems, along with the transfer of technology for the train control and monitoring system (TCMS) for 25 kV AC metro applications, Titagarh Rail informed the bourses.

The framework also provides for a gradual transfer of manufacturing and co-production of converters and traction motors, it said.

Titagarh Rail has already secured a contract to supply 240 coaches – 132 cars for Line 5 and 108 cars for Line 6 of the Mumbai Metropolitan Region Development Authority (MMRDA) metro projects.

The company said the agreement builds on its strategic alliance with ABB, announced in November 2023, and will complete its TCMS portfolio for both 750 V and 25 kV metro traction systems operating in India.

It had acquired TCMS technology for 750 V metro systems under an earlier agreement with ABB and has since set up a dedicated TCMS laboratory at its Bengaluru design centre.

What Titagarh Rail said on the pact

Commenting on the development, Titagarh Rail Systems vice chairman and managing director Umesh Chowdhary said the agreement marked a significant step towards India becoming self-reliant in high-value railway technologies and aligned with the government's 'Atmanirbhar Bharat' vision.

Its Uttarpara facility in West Bengal is being developed as a comprehensive manufacturing hub for aluminium and stainless steel metro coaches, Vande Bharat trains and other passenger rolling stock, supported by a 1.6 km test track, enabled through recent land acquisition, he added.

About ABB India

ABB India operates in the technology sector, particularly in electrification and automation. The company connects engineering know-how with software solutions to optimise manufacturing processes, logistics, power systems and operational efficiency. With a history spanning over 140 years, ABB has a workforce of 1,05,000 employees.

About Titagarh Rail Systems

Titagarh Rail Systems Ltd is a Kolkata-based manufacturer of passenger coaches, freight wagons, metro coaches, components and ships. Titagarh, earlier known as Titagarh Wagons Ltd, is a leading player in the Indian rail manufacturing sector.

In addition to rail and freight coach manufacturing, the company also makes electric propulsion equipment such as traction motors and vehicle control systems.

It also provides engineering services such as the design, development and manufacturing of railway rolling stock components.