Titagarh Rail Systems share price hits 52-week high on partnership with ABB for metro projects in India
BSE, following the announcement that Titagarh Rail Systems has entered into a strategic partnership with ABB for metro projects in India. Titagarh Rail Systems Limited share price opened at ₹960 apiece on BSE. Titagarh Rail System stock price touched an intraday low at ₹959.85 apiece.
According to technical analysts, the broader trend for the Titagarh Rail System stock is positive. The price upmove has been supported by good volumes and hence, the upmove could continue. The support for the stock is now placed around ₹900.
“Last week stock prices witnessed strong traction and after yesterday's pause, the momentum has resumed today with prices up more than 11% , this uptrend is likely to continue with expected next resistance around 1,230. Any dip or consolidation can be considered as a buying opportunity. Immediate support is seen around 940," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.
Also Read: Titagarh Rail Systems share price Today Live Updates : Titagarh Rail Systems sees stock rise in trading today Under the terms of the partnership, Titagarh will buy ABB propulsion systems, which include traction motors, auxiliary converters, traction converters, and TCMS software. Along with the full technology transfer of the GoA 4 (Driverless metro) TCMS software from ABB to Titagarh, it also entails obtaining the manufacturing rights and production licence for traction motors. "Exciting news! Mint is now on WhatsApp Channels
. Read more on livemint.com
