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    Buy Titagarh Wagons, target price Rs 63: Edelweiss

    Synopsis

    Titagarh Wagons Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 616.32 Crore) operating in Engineering sector.

    wagonAgencies
    Promoters held 34.41 per cent stake in the company as of March 31, 2020 while FIIs held 12.39 per cent, DIIs 29.36 per cent and public and others 29.32 per cent.
    Edelweiss has buy call on Titagarh Wagons with a target price of Rs 63. The current market price of Titagarh Wagons Ltd. is Rs 52.7.

    Titagarh Wagons Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 616.32 Crore) operating in Engineering sector.

    Financials
    For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 449.37 Crore, up 6.23 % from last quarter Sales of Rs 423.01 Crore and down 1.05 % from last year same quarter Sales of Rs 454.16 Crore Company reported net profit after tax of Rs -.81 Crore in latest quarter.

    Investment Rationale
    Incremental order intake and the turnaround at Firema are the key variables for the stock. With the Indian Railways targeting a higher share of the freight business, TWL can benefit from increased wagon ordering in the future. The brokerage maintains ‘BUY’ with a revised SoTP-based TP of INR 63 as it rolls forward the valuation to June 2022E.

    Promoter/FII Holdings
    Promoters held 34.41 per cent stake in the company as of March 31, 2020 while FIIs held 12.39 per cent, DIIs 29.36 per cent and public and others 29.32 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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