Titagarh trades at 30% premium on debut

Titagarh Wagons today listed at Rs 550 on the Bombay Stock Exchange, at a marginal premium of 1.85% to its its issue price of Rs 540 per share.

The scrip has now extended gains and is trading at Rs 706 as of 1055 hrs on the BSE. On NSE the scrip opened at Rs 540 and touched a high of Rs 715.

The company had come up with an initial public issue of 2,383,768 shares of  Rs 10 each.

The company is primarily engaged in the business of manufacturing railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.