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Rs 49 to Rs 813: This railway stock turned into a multibagger in three years; trading in overbought zone

Shares of multibagger Titagarh Rail Systems Ltd hit their all-time high today. The stock has delivered over 1,500% returns to investors in the last three years. The stock of railway wagons maker, which closed at Rs 49 on August 21, 2020 rose to a record high of Rs 813 on August 24, 2023, clocking 1,559% returns on BSE. An amount of Rs 1 lakh invested in the Titagarh Rail Systems stock three years ago would have turned into Rs 16.59 lakh today. In comparison, Sensex has risen 68.76 per cent during the period.

Rs 120 to Rs 595 in a year: Can Titagarh Rail Systems shares scale Rs 730 mark?

Shares of multibagger Titagarh Rail Systems Ltd hit their all-time high today. With today’s rally, the stock has zoomed 394% from its 52-week low of Rs 120.25 hit on August 4 last year. The shares of the railway wagon manufacturer touched an all-time high of Rs 594.80, rising 9.95% on BSE today. However, HSBC Global Research sees more upside to the stock. It has initiated coverage on the railway stock with a buy call with a target price of Rs 730.  

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