Whalesbook
Nuvama Securities reiterates its 'Buy' stance on Titagarh Rail Systems, despite a year-on-year decline in Q2FY26 revenue by 24.40% and net profit by 54.26%, attributing the dip to wheelset shortages affecting wagon production. The brokerage highlights the company's robust order book, approximately Rs 15,100 crore, including a significant Rs 2,480 crore order for Mumbai Metro Line 5. Nuvama has lowered FY26E and FY27E EPS estimates but rolled forward its valuation to Q2FY28E, setting a revised target price of Rs 1,088.