Buy Titagarh Wagons, target price Rs 163: ICICI Direct

ICICI Direct has buy call on Titagarh Wagons with a target price of Rs 163. The current market price of Titagarh Wagons is Rs 151.8. Time period given by analyst is 3 months when Titagarh Wagons Ltd. price can reach defined target.

Titagarh Wagons Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 1788.78 Crore) operating in Engineering sector.

Titagarh Wagons Ltd. key Products/Revenue Segments include Wagons And Coaching Underframes, Raw Materials & Components, Scrap and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 538.55 Crore, up 8.00 % from last quarter Total Income of Rs 498.67 Crore and up 4.31 % from last year same quarter Total Income of Rs 516.28 Crore. Company reported net profit after tax of Rs -.06 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to continue its current up move and head towards Rs 163 in coming weeks as it is the price parity with the previous up move (Rs 94-134) as projected from recent trough of Rs 121

Promoter/FII Holdings
Promoters held 47.26 per cent stake in the company as of 30-Jun-2022, while FIIs owned 4.63 per cent, DIIs 7.37 per cent.