# Titagarh Rail Systems (TITAGARH) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/titagarh

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹683
- Change: -0.41%
- As of: 2026-11-06
- 1D return: -0.41%
- 5D return: +4.41%
- 1M return: -12.21%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

TITAGARH is trading at ₹683.00 on 2026-11-06, maintaining a bearish technical structure across daily, weekly, and monthly timeframes. The price remains below all key moving averages (EMA/SMA 20/50/200) and the Supertrend indicator, confirming established downside momentum with an ADX of 27.82 on the daily chart. Despite recent short-term anomalies—including a +6.4% move on 2026-11-02 and high-volume activity on 2026-10-28—the stock has failed to sustain upward pressure, closing near the lower end of its recent range. The stock is down -22.5% year-to-date and sits 39.1% below its available high, indicating significant drawdown risk. Immediate resistance lies at ₹693.08 (pivot), while support is found at ₹676.39. A break above ₹693.08 with sustained volume would be required to challenge the prevailing downtrend; failure to hold above ₹676.39 risks further downside toward ₹663.63.

- Trend: Bearish across all horizons; price trades below all major moving averages and Supertrend, with daily ADX at 27.82 indicating established trend strength.
- Levels: Key resistance at ₹693.08 (+1.48%) and ₹697.00 (+2.05%); immediate support at ₹676.39 (-0.97%) and ₹674.72 (-1.21%).
- Momentum: Recent volatility spikes (e.g., +6.4% on 2026-11-02) have not reversed the broader decline; YTD return is -22.5% with annualized volatility at +40.2%.
- Condition: A daily close above ₹693.08 is needed to invalidate the current bearish structure; otherwise, the path of least resistance remains lower.

- Inside Bar
- Bullish Engulfing Reversal
- Morning Star

### What Changed

Titagarh Rail Systems Limited has initiated the process for releasing its half-yearly financial performance for the period ended September 2026. On November 5, 2026, the company informed the National Stock Exchange (NSE) that its Board of Directors will convene on November 10, 2026. The primary agenda for this meeting is to consider and approve the Unaudited Financial Results for the six-month period ending September 30, 2026. This filing marks a standard procedural step in the quarterly reporting cycle, establishing a clear timeline for when updated financial data regarding revenue, profitability, and operational metrics will become available to investors.

- Board Meeting Scheduled: Titagarh Rail Systems Limited will hold a Board Meeting on November 10, 2026.
- Reporting Period: The meeting aims to approve Unaudited Financial Results for the Half Year ended September 2026.
- Filing Date: The intimation regarding the board meeting was filed with the NSE on November 5, 2026.

- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 10-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [Financial Results |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/TWL_05112026215439_IntimationtoSEforBM05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)

### Official Filings

TITAGARH RAIL SYSTEMS LIMITED has disclosed a significant contract amendment with the Ministry of Railways, exercising an option clause to add 4,955 BOXNHL wagons. This brings the total amended contract quantity to 9,994 wagons at a revised value of ₹10,404.10 crore (inclusive of GST). The additional order is valued at ₹1,716.90 crore plus GST and must be delivered within 222 days, by 7 June 2027. These terms remain consistent with the original agreement's pricing and conditions.

Concurrently, the company has rescheduled its Board Meeting, initially set for 29 October 2026, to 10 November 2026. The meeting will consider and approve the Unaudited Financial Results for the half-year ended September 2026. The trading window for insiders remains closed until 48 hours after these results are declared.

- Contract Amendment: Ministry of Railways exercised an option clause to add 4,955 BOXNHL wagons, raising the total contract value to ₹10,404.10 crore (GST inclusive) for 9,994 wagons.
- Delivery Timeline: The additional order requires execution and delivery within 222 days from the amendment date (28 October 2026), concluding by 7 June 2027.
- Financial Results Schedule: The Board Meeting to approve H1 FY2026-27 unaudited results has been rescheduled from 29 October to 10 November 2026.
- Trading Window Closure: Insider trading restrictions remain in effect until 48 hours post-declaration of the H1 financial results.

- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 10-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [Financial Results |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/TWL_05112026215439_IntimationtoSEforBM05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/TWL_28102026184444_DisclosuretoSE28102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184844674.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184814249.xml)
- [Board meeting Rescheduled |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/TWL_26102026163905_PostponedIntimationtoSEforBM26102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 29-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- [Board Meeting Intimation |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 29-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_165044228.xml)

### Fundamentals

Titagarh Rail Systems reported a sequential decline in Q1 FY2026-27, with revenue from operations falling to ₹765.07 crore from ₹875.43 crore in Q4 FY2025-26. Profit before tax and net profit also contracted sequentially to ₹71.46 crore and ₹52.58 crore, respectively. Despite this quarterly softness, the trailing twelve months (TTM) show robust growth, with TTM sales at ₹3,272 crore and TTM net profit rising to ₹188 crore compared to ₹123 crore in FY2026. The company’s balance sheet reflects significant expansion, with fixed assets growing to ₹1,274 crore by Mar 2026 and borrowings stabilizing around ₹623 crore after a sharp rise in FY2025. However, working capital efficiency has deteriorated, with the cash conversion cycle widening to 113 days in Mar 2026 from 75 days in Mar 2024, driven largely by an increase in inventory days to 92 days. Earnings quality remains mixed; while CFO/EBITDA improved to 118% in Mar 2026 following a negative reading in Mar 2025, ROCE declined to 11% over the same period. Promoter holding remained steady at 40.46% as of Sep 2026, while FII participation increased slightly to 11.39%.

- Q1 FY2026-27 revenue fell sequentially to ₹765.07 crore, with net profit declining to ₹52.58 crore, contrasting with strong TTM net profit growth of ₹188 crore.
- Fixed assets expanded significantly to ₹1,274 crore by Mar 2026, but ROCE compressed to 11% from 25% in Mar 2024.
- Working capital management weakened, with the cash conversion cycle extending to 113 days in Mar 2026, primarily due to inventory days rising to 92 days.
- CFO/EBITDA ratio recovered to 118% in Mar 2026 from -0.0% in Mar 2025, indicating improved operating cash conversion despite higher leverage.

### Bear Case

Titagarh Rail Systems exhibits significant technical weakness and elevated volatility as of November 6, 2026. The stock is trading at ₹683.00, reflecting a substantial decline from recent highs, with a current drawdown of -39.1% against a maximum historical drawdown of -48.7%. Technical indicators across daily, weekly, and monthly timeframes are uniformly bearish; the Supertrend direction is negative on all three horizons, and moving averages (SMA 20 and SMA 50) show steep downward slopes, indicating sustained selling pressure. Performance metrics highlight this deterioration: the stock has fallen -22.5% year-to-date, -20.7% over the last three months, and -20.2% over the past year. High annualized volatility of +40.2% and an Average True Range (ATR) of 4.23% suggest that price swings remain wide and unpredictable. While immediate support exists near ₹676.39, the broader trend remains firmly negative with limited upside resistance nearby at ₹693.08.

- Technical Trend: Bearish signals dominate across daily, weekly, and monthly charts, with Supertrend directions negative and short-term moving averages sloping sharply downward.
- Performance Decline: The stock has lost -22.5% YTD and -20.7% over the last quarter, closing at ₹683.00 on November 6, 2026.
- Volatility & Drawdown: Current drawdown stands at -39.1% (max -48.7%) with high annualized volatility (+40.2%), indicating significant price instability.
- Price Levels: Immediate support is observed at ₹676.39, while resistance is located closely at ₹693.08 (1.48% above), suggesting constrained upside in the near term.

- [Ramkrishna Forgings Q2 Results: profit at ₹70 crore](https://www.thehindubusinessline.com/companies/ramkrishna-forgings-q2-profit-at-70-crore/article71652074.ece)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 10-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [Financial Results |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/TWL_05112026215439_IntimationtoSEforBM05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/TWL_28102026184444_DisclosuretoSE28102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184844674.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184814249.xml)
- [Board meeting Rescheduled |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/TWL_26102026163905_PostponedIntimationtoSEforBM26102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 29-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- [Board Meeting Intimation |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)

### FAQs

**What recent order activity has Titagarh Rail Systems received from the Ministry of Railways?**

On 28 October 2026, the Ministry of Railways exercised an option clause to order an additional 4,955 BOXNHL wagons. This brings the total amended contract quantity to 9,994 wagons with a total value of ₹10,404.10 crore inclusive of GST. Delivery is scheduled within 222 days of the amendment, up to 7 June 2027.

**When will Titagarh Rail Systems release its financial results for the half-year ended September 2026?**

The company has informed the NSE that its Board Meeting to consider and approve the Unaudited Financial Results for the Half Yearly period ended September 2026 will be held on 10 November 2026.

**How has the stock performed over the past year compared to its current price level?**

As of 6 November 2026, the stock closed at ₹683.00, reflecting a one-year return of -20.2% and a year-to-date decline of -22.5%. The stock is currently trading near support levels, with the nearest pivot resistance at ₹693.08 (1.48% above) and immediate support at ₹676.39 (0.97% below).

- [Ramkrishna Forgings Q2 Results: profit at ₹70 crore](https://www.thehindubusinessline.com/companies/ramkrishna-forgings-q2-profit-at-70-crore/article71652074.ece)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 10-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [Financial Results |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/TWL_05112026215439_IntimationtoSEforBM05112026.pdf)
- [Board Meeting Intimation |Meeting Date: 10-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/TWL_28102026184444_DisclosuretoSE28102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184844674.xml)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184814249.xml)
- [Board meeting Rescheduled |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/TWL_26102026163905_PostponedIntimationtoSEforBM26102026.pdf)
- [TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Board Meeting to be held on 29-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- [Board Meeting Intimation |Meeting Date: 29-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹693.08
- Risk regime: Higher Price Risk

### Support levels
- 676.3875
- 650.425
- 637.6

### Resistance levels
- 697
- 728
- 790.840625

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.41% |
| return_10 | +2.96% |
| return_1m | -15.14% |
| return_1y | -20.20% |
| return_20 | -12.21% |
| return_3m | -20.73% |
| return_5 | +4.41% |
| return_6m | -19.31% |
| return_since_start | -38.38% |
| return_ytd | -22.54% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -48.71% |
| annualized_volatility | +40.17% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Dips Sequentially but Profit Holds Steady; Year-on-Year Profit Rises 70%

In the first quarter of FY2026-27, Titagarh Rail Systems reported revenue of ₹765.07 crore, a 12.6% decrease from the preceding quarter but a 12.6% increase over the same period last year. Despite the sequential revenue drop, net profit fell only 1.7% from the prior quarter, as a sharp reduction in other expenses and lower finance costs helped cushion the impact. Compared to the year-ago quarter, net profit rose 69.9%, outpacing revenue growth.

## Revenue: Sequential Decline After Four Quarters of Growth

Revenue from operations fell from ₹875.43 crore in Q4 FY2025-26 to ₹765.07 crore in Q1 FY2026-27, a decrease of ₹110.36 crore or 12.6%. This reversed the rising trend seen over the previous four quarters. On a year-on-year basis, revenue grew by ₹85.77 crore or 12.6% from ₹679.30 crore in Q1 FY2025-26, indicating that the business is still larger than a year ago.

## Profitability: Margins Improve as Costs Decline

Profit before tax (PBT) was ₹71.46 crore, down 8.1% sequentially from ₹77.72 crore, but up 25.4% from ₹56.99 crore a year earlier. Net profit (profit for the period) was ₹52.58 crore, a modest 1.7% sequential decline from ₹53.50 crore, and a 69.9% increase from ₹30.94 crore in Q1 FY2025-26.

The sequential decline in revenue was not matched by a proportional decline in profit. The PBT margin improved from 8.9% in Q4 to 9.3% in the current quarter, while the net profit margin rose from 6.1% to 6.9%. Year-on-year, the net profit margin expanded from 4.6% to 6.9%, as profit growth far exceeded revenue growth.

## Other Expenses: Sharp Decline Helps Offset Revenue Drop

Other expenses fell sharply from ₹108.99 crore in Q4 to ₹78.97 crore in the current quarter, a decline of ₹30.02 crore or 27.5%. This sharp decline contributed to the resilience of net profit. Compared to the year-ago quarter, other expenses were down 17.7% from ₹95.91 crore.

## Finance Costs: Continued Decline

Finance costs decreased from ₹16.88 crore in Q4 to ₹15.10 crore in the current quarter, a decline of 10.6%. On a year-on-year basis, finance costs fell 15.4% from ₹17.84 crore. Finance costs have declined each quarter over the past five quarters, with the current figure being the lowest in that period. The lower finance costs also contributed to the resilience of net profit.

## Earnings Per Share

Basic earnings per share (EPS) was ₹3.91, compared to ₹3.97 in the prior quarter (down 1.5%) and ₹2.30 in the year-ago quarter (up 70.0%). Diluted EPS was ₹3.84, reflecting a small dilution effect.

## Segment Profit vs. Total Profit

Segment profit before tax was ₹70.88 crore, while total profit before tax was ₹71.46 crore, a difference of ₹0.58 crore. The small gap does not materially affect the overall picture.

## Key Takeaway

Titagarh Rail Systems experienced a sequential revenue decline in Q1 FY2026-27, but a sharp reduction in other expenses and lower finance costs helped keep net profit nearly flat. Year-on-year, net profit rose 69.9% on a 12.6% revenue increase, reflecting improved margins.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +40.46%
- FII holding: +11.39%
- DII holding: +15.95%
- Mutual fund holding: +12.98%
- Retail holding: +27.77%
- Promoter pledged: +0.00%

### Major reported shareholders

- Titagarh Capital Management Services Private Limited — +17.87% (Bodies Corporate)
- Jagdish Prasad Chowdhary(Trustee of Chowdhury foundation) — +13.52% (Trusts)
- RASHMI CHOWDHARY — +7.52%
- HDFC LARGE AND MID CAP FUND — +3.85%
- HSBC MUTUAL FUND - HSBC AGGRESSIVE HYBRID FUND — +2.77%
- Titagarh Logistics Infrastructures Private Limited — +1.42% (Bodies Corporate)
- MIRAE ASSET INFRASTRUCTURE FUND — +1.35%
- THE MASTER TRUST BANK OF JAPAN, LTD. AS TRUSTEE OF HSBC INDIA INFRASTRUCTURE EQU — +1.08%
- GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO — +1.06%
- AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS AGGRESSIVE HYBRID — +1.01%

## Official filings

- 2026-11-05 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- 2026-11-05 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_05112026215439_IntimationtoSEforBM05112026.pdf)
- 2026-11-05 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261105_215638217.xml)
- 2026-10-28 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_28102026184444_DisclosuretoSE28102026.pdf)
- 2026-10-28 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184844674.xml)
- 2026-10-28 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2744_WebXMLFile_20261028_184814249.xml)
- 2026-10-26 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_26102026163905_PostponedIntimationtoSEforBM26102026.pdf)
- 2026-10-26 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- 2026-10-26 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_164501713.xml)
- 2026-10-26 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_165044228.xml)
- 2026-10-26 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261026_165044228.xml)
- 2026-10-23 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_23102026120000_IntimationtoSEforBM29102026.pdf)
- 2026-10-23 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261023_120347100.xml)
- 2026-10-23 — Board Meeting Notice: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2744_WebXMLFile_20261023_120347100.xml)
- 2026-10-13 — Shareholding Disclosure: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1736913_13102026035219_WEB.xml)
- 2026-10-01 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_01102026170138_votingresult.pdf)
- 2026-09-30 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_30092026173212_SummaryProceedingsofAGM30092026.pdf)
- 2026-09-15 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_15092026162116_StockExchangeintimationJVAwithBHEL15092026Final.pdf)
- 2026-09-15 — Press Release: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_15092026204739_PressRelease15092026.pdf)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_08092026135547_SubmissionofNoticeofAGM08092026.pdf)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_08092026141715_CorporateActionRecorddateintimation.pdf)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_2744_WebXMLFile_20260908_153131567.xml)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_2744_WebXMLFile_20260908_152924531.xml)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_08092026163726_TDScommunicationletter08092026.pdf)
- 2026-09-08 — Generic Announcement: TITAGARH RAIL SYSTEMS LIMITED — [Official attachment](https://nsearchives.nseindia.com/corporate/TWL_08092026193404_WeblinkforARandKYC.pdf)

## News and market events

- 2026-11-01 — The Hindu: **Ramkrishna Forgings Q2 Results: profit at ₹70 crore** — Ramkrishna Forgings posted a consolidated net profit of ₹70.59 crore for the September quarter FY27, reversing a loss from the prior year, as revenue grew to ₹1,405.42 crore supported by strong domestic demand and commercial vehicle production schedules. — [Source](https://www.thehindubusinessline.com/companies/ramkrishna-forgings-q2-profit-at-70-crore/article71652074.ece)
- 2026-10-29 — MONEYCONTROL: **Price Action: Vedanta Aluminium down 3% after CLSA retains 'outperform'; Titagarh Rail Systems share price sheds nearly 4%** — Price Action: Vedanta Aluminium down 3% after CLSA retains 'outperform'; Titagarh Rail Systems share price sheds nearly 4% Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Kiren Rijiju MLC Election Results Moon Rise Time Today Silver Price Nagpur MLC Election Result Amazon Layoffs US Fed Rates Varanasi MLC Polls News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bo — [Source](https://www.moneycontrol.com/news/business/markets/price-action-vedanta-aluminium-down-3-after-clsa-retains-outperform-titagarh-rail-systems-share-price-sheds-nearly-4-14063031.html)
- 2026-10-29 — BUSINESSTODAY: **Titagarh Rail Systems shares gain over 3% in early deals; here's why** — Shares of Titagarh Rail Systems Ltd are in focus today after the railway wagons firm said railways has issued an Amendment Letter for additional quantity of 4,955 BOXNHL wagons valued at Rs 1716.90 crore. — [Source](https://www.businesstoday.in/markets/stocks/story/titagarh-rail-systems-shares-gain-over-in-early-deals-heres-why-564428-2026-10-29)
- 2026-10-29 — BUSINESSTODAY: **GIFT Nifty down 95 pts; Hero Moto, Dr Reddys, ACME Solar, Titagarh, Suzlon among top stocks in focus** — Indian equity markets are set for a cautious opening on Thursday as traders assess the global monetary policy and rising crude oil prices. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/gift-nifty-down-95-pts-hero-moto-dr-reddys-acme-solar-titagarh-suzlon-among-top-stocks-in-focus-564422-2026-10-29)
- 2026-10-29 — The Hindu: **Stocks to watch, October 29: TVS Motor, Fortis Healthcare, Dr Reddy’s, Bajaj Electricals, Titagarh, Zaggle, Awfis, HD Fire, KIMS, Shalby** — Buzzing stocks feature TVS Motor demerger, Fortis, Dr Reddy’s updates, leadership shifts at Bajaj Electricals, plus new orders, expansions, and regulatory news. — [Source](https://www.thehindubusinessline.com/markets/buzzing-stocks-tvs-motor-fortis-healthcare-dr-reddys-bajaj-electricals-titagarh-zaggle-awfis-hd-fire-kims-shalby/article71638820.ece)
- 2026-10-29 — MONEYCONTROL: **Titagarh Rail Systems shares in focus on order win from Ministry of Railways** — Titagarh Rail Systems shares in focus on order win from Ministry of Railways Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Jio IPO Listing Price Cyclone Arnab Live Gold Price Akash Ambani Karnataka MLC Polls Israel exit polls HUL Q2 Results Prashant Kishor News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance m — [Source](https://www.moneycontrol.com/news/business/markets/titagarh-rail-systems-shares-in-focus-on-order-win-from-ministry-of-railways-14062769.html)
- 2026-10-28 — CNBC-TV18: **Titagarh Rail Systems bags ₹1,717 crore additional order for 4,955 wagons from Railways** — Titagarh Rail Systems has received an additional ₹1,716.90 crore order, plus GST, from the Ministry of Railways for 4,955 BOXNHL wagons. The additional order takes the total contract quantity to 9,994 wagons and the amended contract value to ₹10,404.10 crore, inclusive of GST, with delivery scheduled by June 7, 2027. — [Source](https://www.cnbctv18.com/market/stocks/titagarh-rail-systems-share-price-bags-rs-1717-crore-additional-order-for-4955-wagons-from-railways-20021711.htm)
- 2026-09-16 — BUSINESS: **Stock Alert: GMR Airports, Saatvik Green Energy, NBCC, GMM Pfaudler** — Shares of Inox Wind, Kaynes Technology India, Bandhan Bank and SAIL are banned from F&O trading on 16 September 2026. — [Source](https://www.business-standard.com/markets/capital-market-news/stock-alert-gmr-airports-saatvik-green-energy-nbcc-gmm-pfaudler-126091600135_1.html)
- 2026-09-16 — BUSINESSTODAY: **BHEL, Titagarh Rail Systems shares in focus today; here's why** — BHEL shares, Titagarh Rail Systems shares, BHEL stock, BHEL share price today, Vande Bharat sleeper trainsets — [Source](https://www.businesstoday.in/markets/stocks/story/bhel-titagarh-rail-systems-shares-in-focus-today-heres-why-555758-2026-09-16)
- 2026-09-16 — BUSINESSTODAY: **Top stocks in news: Groww, Kanohar, BHEL, Glass Wall, Auro Pharma, GMR Airports, Prasol, NBCC** — Stocks in news, Stocks in buzz, Stocks to buy, Stocks to watch, Groww, Kanohar Electricals, Bharat Heavy Electricals, BHEL, Glass Wall Systems (India), Aurobindo Pharma, GMR Airports, Prasol Chemicals, NBCC (India), Tata Communications, Blue Star, Billionbrains Garage Ventures, Saatvik Green Energy, Sunshine Pictures, India Pesticides, Sonata Software, VIP Industries — [Source](https://www.businesstoday.in/markets/stocks/story/top-stocks-in-news-groww-kanohar-bhel-glass-wall-auro-pharma-gmr-airports-prasol-nbcc-555749-2026-09-16)
- 2026-09-15 — CNBC-TV18: **Stocks to watch for September 16: HDFC Bank, BHEL, Bharat Forge, Vedanta and more** — From BHEL signing a joint venture agreement with Titagarh Rail Systems to Sonata Information Technology signing a five-year Strategic Collaboration Agreement (SCA) with Amazon Web Services, here are the stocks to track ahead of Wednesday’s trading session. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-september-16-hdfc-bank-bhel-bharat-forge-blue-star-and-more-19991194.htm)
- 2026-09-15 — Mint: **Top stocks in focus tomorrow: Investors must watch NBCC, BHEL, Bharat Forge shares on Wed, 16 Sept | Triggers** — On September 16, investors will monitor companies such as Tata Communications and Aurobindo Pharma due to various business updates, including new product launches, joint ventures, and settlement agreements.  — [Source](https://www.livemint.com/market/top-stocks-in-focus-tomorrow-investors-must-watch-nbcc-bhel-bharat-forge-shares-on-wed-16-sept-triggers-11789478026874.html)
- 2026-09-15 — FREEPRESSJOURNAL.IN: **BHEL, Titagarh Sign 50:50 JV, ₹50 Lakh Venture To Maintain Vande Bharat Sleeper Trains For 35 Years** — BHEL and Titagarh Rail Systems sign a 50:50 venture to maintain Vande Bharat Sleeper trainsets for 35 years, backed by Rs 50 lakh in initial paid-up capital. — [Source](https://www.freepressjournal.in/business/bhel-titagarh-sign-5050-jv-50-lakh-venture-to-maintain-vande-bharat-sleeper-trains-for-35-years)
- 2026-09-15 — BUSINESSTODAY: **Titagarh Rail Systems rides on Vande Bharat, metro push for growth; what else ICICI Securities says** — Titagarh Rail Systems, Vande Bharat trains, metro coaches, rolling stock India, passenger mobility, freight wagons, BHEL consortium, rail cargo target, Titagarh Rail target price, Titagarh Rail share price target — [Source](https://www.businesstoday.in/markets/stocks/story/titagarh-rail-systems-rides-on-vande-bharat-metro-push-for-growth-what-else-icici-securities-says-555522-2026-09-15)
- 2026-09-09 — Times of India: **Top stocks to buy today: Stock recommendations for September 9, 2026 - check list** — India Business News: Stock market recommendations: Titagarh Rail Systems, AIA Engineering, and HBL Engineering - Mehul Kothari, DVP of Technical Research at Anand Rathi Sh. — [Source](https://timesofindia.indiatimes.com/business/india-business/top-stock-recommendations-for-september-09-2026-titagarh-rail-systems-aia-engineering-hbl-engineering-best-stocks-to-buy-today/articleshow/133940516.cms)
- 2026-09-08 — MONEYCONTROL: **Trade Spotlight: How should you trade Titagarh Rail Systems, AIA Engineering, Apollo Hospitals, Divis Labs, Blue Star, and others on September 8?** — Trade Spotlight — [Source](https://www.moneycontrol.com/news/business/markets/trade-spotlight-how-should-you-trade-titagarh-rail-systems-aia-engineering-apollo-hospitals-divis-labs-blue-star-and-others-on-september-8-14024785.html)
- 2026-09-08 — Mint: **Raja Venkatraman recommends three stocks for 8 September** — Market expert Raja Venkatraman shares his top stock picks for 8 September. Here’s his technical outlook and trade strategy. — [Source](https://www.livemint.com/market/stock-market-news/raja-venkatraman-recommends-three-stocks-for-8-september-11788800507147.html)
- 2026-09-04 — BUSINESS: **Volumes jump at HBL Engineering Ltd counter** — HBL Engineering Ltd saw volume of 127.24 lakh shares by 14:14 IST on NSE, a 20.33 fold spurt over two-week average daily volume of 6.26 lakh shares — [Source](https://www.business-standard.com/markets/capital-market-news/volumes-jump-at-hbl-engineering-ltd-counter-126090400643_1.html)
- 2026-09-04 — Mint: **Gift Nifty hints big gap-up start | Amid Janmashtami celebrations, Vaishali Parekh recommends three stocks to buy today** — Vaishali Parekh recommends three stocks to buy today — Titagarh Rail Systems, Edelweiss Financial Services, and PI Industries — [Source](https://www.livemint.com/market/stock-market-news/gift-nifty-hints-big-gap-up-start-amid-janmashtami-celebrations-vaishali-parekh-recommends-three-stocks-to-buy-today-11788485706235.html)
- 2026-09-02 — Times of India: **First Vande Bharat in 2019, sleeper version came in 2026; now 260 trains in works** — img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="https://timesofindia.indiatimes.com/photo/133702275.cms" /The first pair of Vande Bharat sleeper trains was launched earlier this year between Guwahati and Howrah. The second pair is undergoing trials and is expected to enter service soon. Reports suggest it may run between Bengaluru and Mumbai, though an official confirmation is awaited. — [Source](https://timesofindia.indiatimes.com/business/india-business/in-2019-india-launched-its-first-vande-bharat-express-seven-years-later-came-the-sleeper-version-and-railways-now-plans-260-vande-sleeper-rakes-with-world-class-features/articleshow/133702275.cms)
- 2026-08-27 — FREEPRESSJOURNAL.IN: **Titagarh Signs Siemens MoU, Eyes Global Metro Rail Projects** — Titagarh Rail Systems and Siemens will jointly explore international metro rolling stock projects while supporting local manufacturing in India. — [Source](https://www.freepressjournal.in/business/titagarh-signs-siemens-mou-eyes-global-metro-rail-projects)
- 2026-08-21 — Economic Times: **India set to approve $1.2 billion incentive plan to make building equipment, sources say** — India is set to launch a $1.2 billion incentive scheme to stimulate local manufacturing efforts. This initiative aims to draw in $1.8 billion of new investments over the next seven years, focusing on essential machinery such as tunnel boring machines and fire-fighting equipment. A major goal is to lessen reliance on imports, particularly from China, while establishing local value-addition targets for machines that are fully imported. — [Source](https://economictimes.indiatimes.com/markets/digital-real-estate/realty-news/india-set-to-approve-1-2-billion-incentive-plan-to-make-building-equipment-sources-say/articleshow/133405575.cms)
- 2026-08-20 — BUSINESS: **Titagarh Rail gains 3% as Jefferies sees 5% revenue boost for wagon maker** — Titagarh Rail Systems is an Indian railway wagon and coach manufacturer, with an annual manufacturing capacity of 12,000 wagons and 300 coaches. — [Source](https://www.business-standard.com/markets/news/titagarh-rail-gains-3-as-jefferies-sees-5-revenue-boost-for-wagon-maker-126082000643_1.html)
- 2026-08-20 — BUSINESSTODAY: **RVNL, IRCON, Jupiter Wagons, Titagarh Rail: Why railway stocks are rising today** — railway sector stocks, projects of Railways, rail sector stocks, Titagarh Rail System shares, Texmaco Rail, RVNL, IRCON International, Jupiter Wagons, IRFC, RITES, stock gainers, Four projects of Ministry of Railways — [Source](https://www.businesstoday.in/markets/stocks/story/rvnl-ircon-jupiter-wagons-titagarh-rail-why-railway-stocks-are-rising-today-550251-2026-08-20)
- 2026-08-20 — The Hindu: **18  stocks including  BSE, LIC, HDFC Bank, Aditya Infotech, Ramco Systems, Titagarh Rail, Gravita, Strides, Dr Lal Path in focus today** — Focus will also be on Autoline, Tata Motors, NIS, Quint Digital, HEG, Cellar Gadgets, Ceigall, EMS, Mukund — [Source](https://www.thehindubusinessline.com/markets/18-stocks-including-bse-lic-hdfc-bank-aditya-infotech-ramco-systems-titagarh-rail-gravita-strides-dr-lal-path-in-focus-today/article71367601.ece)

## Business profile

**Strategic vision:** Manufactures rail systems and engages in shipbuilding.

### Business segments
- **Freight Rail Systems:** The company designs and manufactures a range of freight wagons and critical components like bogies and couplers, leveraging its foundry operations.
- **Passenger Rail Systems:** Titagarh manufactures passenger rolling stock, including semi high-speed trains and urban metros, and provides electric propulsion systems, supported by its Italian subsidiary Titagarh Firema SpA.
- **Shipbuilding:** Through its subsidiary Titagarh Naval Systems Ltd., the company undertakes shipbuilding activities and is expanding capacity for larger vessels.

### Competitive strengths
- Vertically integrated manufacturing operations from foundry to finished rolling stock.
- Strategic joint ventures for specialized manufacturing and R&D.
- International subsidiary for passenger rolling stock expertise.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/titagarh
Markdown representation: https://faxioms.com/stocks/titagarh?render=md