Titagarh Wagons, flagship company of the Titagarh Group, promoted by the Chowdhary family has made its maiden foray into the large potential of Metro Coach business.

Recently, it bagged a contract for rehabilitation of 56 coaches (7 rakes) from the Kolkata Metro Railway. The scope of the job would involve midlife special repair and rehabilitation of the rakes.

Speaking on this development Umesh Chowdhary, vice chairman & managing director said, ''It is a very important milestone for the Group. Since this marks our entry into the Metro Coach business segment. While our ultimate objective is to find a suitable technology partner and add to the present portfolio of products and undertake manufacturing of metro coaches and other modern passenger coaches, this order provides us with a stepping stone into this segment of business. With this initial contract in place, we will intensify our efforts and establish our meaningful presence in this segment.''

Shares of the company declined Rs 12.9, or 4.39%, to settle at Rs 281.20. The total volume of shares traded was 11,484 at the BSE (Friday).