Meanwhile, shares of Titagarh Wagons gained 3.04% to currently trade at Rs 296.70 on the BSE.

The consortium of BHEL and Titagarh Wagons has received an order for supply of 80 nos. sleeper class Vande Bharat trains. The consortium also has undertake comprehensive maintenance of the same for 35 years in accordance with the terms and conditions of the agreement.

The consortium has to equip, upgrade, operate and maintain the exclusive place provided in the manufacturing unit at ICF Chennai and Two Depots assigned by Indian Railways.

The trains have to be supplied within a period of 72 months and the contract has been awarded at the rate of Rs 120 crore per train.

State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 December 2022, the Government of India held 63.17% stake in the company.

The company's consolidated net profit jumped 56.48% to Rs 42.28 crore in Q3 FY23 as against Rs 27.02 crore reported in Q3 FY22. Revenue from operations rose marginally to Rs 4,939.49 crore in Q3 FY23 as compared to Rs 4,918.98 crore posted in the corresponding quarter last fiscal.