Mumbai, January 28 (Udaipur Kiran): Shares of Titagarh Rail Systems traded higher on the BSE after the company signed an agreement with ABB India to develop propulsion systems for 25kV driverless metro projects in India.

Titagarh Rail Systems was trading at Rs. 792.60, up by Rs. 11.75 or 1.50 per cent from its previous close of Rs. 780.85 on the BSE. The stock opened at Rs. 790.00 and touched an intraday high of Rs. 801.60 and a low of Rs. 788.80. A total of 22,279 shares were traded on the counter during the session.

The BSE Group ‘A’ stock, with a face value of Rs. 2, has touched a 52-week high of Rs. 1,100.00 on February 1, 2025, and a 52-week low of Rs. 655.30 on March 4, 2025. Over the past one week, the scrip moved between a high of Rs. 801.60 and a low of Rs. 766.50. The company’s current market capitalisation stands at Rs. 10,698.48 crore.

Promoters hold a 40.46 per cent stake in the company, while institutional investors and non-institutional investors hold 23.26 per cent and 36.28 per cent respectively.

Titagarh Rail Systems has signed an agreement with ABB India for the development of propulsion systems and technology transfer for 25kV AC driverless metro projects. Under the agreement, ABB India will support the design, manufacture, supply, testing, installation supervision and commissioning of propulsion systems, along with the transfer of Train Control and Monitoring System (TCMS) technology for 25kV AC metro applications. The systems are designed for GoA2 operations and are upgradable to GoA4. The agreement also includes a gradual transfer of manufacturing and co-production of converters and traction motors for projects awarded by the Mumbai Metropolitan Region Development Authority.

Titagarh has been awarded a contract to deliver 240 metro coaches, including 132 cars for Line 5 and 108 cars for Line 6. The scope covers Line 5 from Kapurbawadi to Kalyan APMC and Line 6 from Swami Samarth Nagar to Vikhroli (EEH), along with five years of maintenance after a two-year defect liability period.

The company is already manufacturing traction motors for locomotives and EMUs and, under this agreement with ABB, will progressively co-produce high-precision propulsion systems for metro applications. Titagarh Rail Systems, formerly known as Titagarh Wagons, is engaged in manufacturing freight wagons, passenger coaches, steel castings and specialised equipment.