Titagarh Rail shares rise 8% following bulk deal over ₹85 crore

This follows a bulk deal a day prior in which Morgan Stanley purchased over ₹85 crore worth of shares in the company.

The investment banking firm purchased 7,63,738 shares or 0.57% on Wednesday, October 16 at an average ₹1,120 per share price in the Kolkata-based railway company, the stakes purchased amounted to ₹85.54 crore, according to the bulk deal data on the NSE.

The New-York based Morgan Stanley made the purchase through its affiliate Morgan Stanley Asia Singapore.

On the other end of the spectrum, the Capital Group, through its arms SmallCap World Fund Inc sold 7.9 lakh shares of the Kolkata-based Titagarh Rail Systems on Wednesday for an average price of ₹1,120.12 apiece. Thus, offloading a 0.59% stake in the railway stock manufacturing company.

The deal was valued at ₹88.6 crore.

Titagarh Railway Systems closed at ₹1,133 per share price on the NSE, slipping 1.19% (-₹13.60) on Wednesday.

The company hit its 52-week high of ₹1,896.95 on the NSE on June 27, 2024 and touched a record low of ₹702.30 on October 26, 2023.

Titagarh Railway Systems became listed on April 28, 2008. The company is involved in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electrical systems, steel castings, specialised equipment, bridges, and ships.