Titagarh Rail Systems is back in the spotlight after clinching a big order from Garden Reach Shipbuilders & Engineers Ltd. (GRSE). The company has received a Letter of Intent (LOI) worth ₹467.25 crore for building two specialized vessels.
These ships are being built for the Geological Survey of India (GSI) and will serve as research vessels for coastal exploration.
What the Ships Will Do
The vessels are designed for some serious scientific work. Their key roles include:
- Offshore geological mapping
- Mineral exploration (including dredging)
- Monitoring the ocean environment
- Onboard research and data processing
- Running advanced lab experiments at sea
- Each ship will come equipped with modern, state-of-the-art laboratories, making them floating research hubs.
Order Value and Timeline
The total order is pegged at ₹445 crore, plus an additional ₹22.25 crore in GST, taking the overall value to ₹467.25 crore. The vessels will be built under the standards of the Indian Register of Shipping, with the project scheduled for completion in 28 months.
Stock Market Reaction
The market has already reacted to the news. Titagarh Rail shares jumped over 2-3% in early trade after the order announcement. However, investors should note that the stock has been quite volatile over the past year, and despite this fresh boost, it still trades well below its 52-week high.
