Why this railway stock Titagarh Rail Systems is skyrocketing — explained

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₹24 apiece levels in March 2020, Titagarh Rail Systems share price has been ascending continuously and it has remained an ideal 'buy on dips' stock on Dalal Street. The stock has been hitting new high for the last four days.

Titagarh Rail Systems share price today opened upside and hit new life-time high of ₹827.95 apiece on BSE. Speaking on the reasons for continuous rise in Titagarh Rail Systems shares, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "the government of India (GoI) has announced special focus on infrastructure, which includes rail infra as well.

Being an active beneficiary of the railway infrastructure projcts, which includes recently announced four railway infrastructure development projects announced by the Gati Shakti, the market has gone highly bullish on the scrip." The Profitmart Security expert went on to add that Indian Railways' had announced to add new wagons in July to September 2023 quarter that was expected to benefit majority of the railway stocks including Titagarh Rail Systems. So, Dalal Street bulls are highly bullish on the scrip and recent rise in the stock can be attributed to these combination of reasons.

However, Avinash Gorakshkar said that the stock has already risen and hence fresh investment is not advised at current levels. One should wait for some profit booking to find a possible level to an entry level.

Advising Titagarh Rail Systems shareholders to hold the stock further, Sumeet Bagadia, Executive Director at Choice Broking said, "Shareholders of this railway stock are advised to hold the stock with stop loss at ₹775. The stock is looking positive on chart pattern and it may go up to ₹875 to ₹900 apiece levels in near term." In last one month, this