Titagarh Rail Systems has entered into a joint venture with Amber Enterprises to form Shivaliks, a Joint Venture Special Purpose Vehicle, to manufacture railway components globally. The joint venture aims to manufacture railway components globally, with a cash consideration of up to ₹120 crores each from Sidwal and Titagarh Rail Systems Ltd, with completion by February 2024. The share price of the small-cap company spiked by 2.7% to its intraday high of ₹1,126 per share from its previous close of ₹1,096.35 after the announcement.
According to the article, Titagarh Rail Systems Limited is a supplier of passenger rolling stock, including metro coaches. The company offers a variety of electric propulsion equipment, including traction motors and vehicle control systems. The company has a low price-to-earnings ratio of 69, a low debt-to-equity ratio of 0.26, a return on equity of 14%, and a return on capital employed of 17%.
