Meanwhile, the S&P BSE Sensex was down 36 points or 0.17% at 20,693.38.

On BSE, so far 89,000 shares were traded in the counter as against average daily volume of 35,580 shares in the past one quarter.

The stock hit a high of Rs 131.65 and a low of Rs 126.30 so far during the day. The stock had hit a 52-week high of Rs 384 on 9 January 2013. The stock had hit a record low of Rs 69.85 on 5 August 2013.

The stock had outperformed the market over the past one month till 8 January 2014, surging 24.59% compared with the Sensex's 1.27% fall. The scrip had also outperformed the market in past one quarter, jumping 15.5% as against the Sensex's 3.73% rise.

The small-cap company has equity capital of Rs 20.06 crore. Face value per share is Rs 10.

Shares of Titagarh Wagons have surged 7.15% in two trading sessions from Rs 119.45 on 7 January 2014 after the company during trading hours on Wednesday, 8 January 2014 said that it has divested its entire holding in Barrackpore Enterprises (formerly Titagarh FreightCar) on 31 December 2013. The stock had risen 6.02% to settle at Rs 126.65 on Wednesday, 8 January 2014.

Consequent to stake divestment, Barrackpore Enterprises is no longer a wholly-owned subsidiary of Titagarh Wagons, the company said.

Titagarh Wagons' net profit fell 67.4% to Rs 1.77 crore on 45.3% decline in net sales to Rs 62.38 crore in Q2 September 2013 over Q2 September 2012.

Titagarh Wagons is one of the leading private sector wagon manufacturers in India. The company is engaged in the business of manufacturing railway wagons, EMU (rail coaches), bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.