New Delhi: Titagarh Wagon today announced that HDFC Fund has acquired over 98,000 shares of the company at a cost of over Rs 130 crore.

The HDFC fund bought 98,70,302 shares, or 4.04% of the company’s stake, through the QIP scheme, the railway maker said in an ESB filing.

According to the message, the date of receipt of the delivery notification is July 15, 2015.

On record, HDFC Mutual Fund rose to 9.51% from 5.47%.

Earlier this week, Titagarh Wagons announced the acquisition of Italian firm Trasporti, signaling its commitment to building metros and high-speed trains.

The company said sales will increase from $875 million to another $220 million, at a cost of more than $2.4 billion.

The automaker said last week it would raise $250 million in a bond sale to investors. When the QIP was launched on July 8, the “maximum price per common share was fixed at Rs 104.64 and the minimum price was Rs 2 each”.

Based on the low price, a 4.04% stake in the company could be worth $103.3 million.

Shares of the company rose 7.16% to Rs 120.55 per share on the BSE today.

Titagarh Motors will benefit from the sale of HDFC MF shares

Titagarh Wagon rose 5.25% to 673.90 on BSE at 9:59 am after HDFC-HDFC Mutual Fund Prudential Fund bought 22.4 lakh NSE shares at an average price of Rs 599.49 per share. Published yesterday, February 27, 2015.

Meanwhile, the S&P BSE Sensex rose 250.20 points (0.86%) to 29,470.32.

The BSE has traded 2.53 million shares so far against an average daily volume of 8.84 million shares in the past two weeks.

The stock touched a daily high of Rs 682.20 and a low of Rs 647.

Titagarh Wagon posted a profit of Rs 917 crore in the third quarter of December 2014, compared to a loss of Rs 3.74 billion in the third quarter of December 2013. The December 2013 profit was higher in December 2014 than in December 2013 Q3.

Titagarh Wagon is one of the leading bus and coach manufacturers in India.

Titagarh Wagon Limited IPO (Titagarh Wagon IPO).

Established in 1997, Teetagarh Wagon Ltd. is one of India’s top manufacturers. The company is involved in the manufacture of railway vehicles, bailey bridges, earth removal and mining, medium and hard steel, and nodular steel.

They also manufacture other products for the Indian Army such as special bikes, as well as other mechanical equipment. The market share in the rail segment increased from 16.9% in FY06 to 22.1% in FY07.

Titagarh Wagon Ltd. is the only private company registered with the Ministry of Defense and Government of India that manufactures Bailey Bridges and other related equipment in India. Titagarh Wagon Limited is a leading manufacturer of heavy equipment and aims to be the best service provider in the infrastructure sector. It operates two factories in Titagarh and Uttarpara in Western Europe. Titagarh Wagon is one of the leading bus and coach manufacturers in India.