Titagarh Rail Systems Ltd. has announced that the company plans on foraying into two new business lines, other than its core railways business. The company made this announcement at the conclusion of its board meet on Monday, February 3.CompanyValueChange%ChangeTitagarh will foray into the “Shipbuilding and Maritime Systems” business, where it will undertake marine business activities, including shipbuilding, ship repair and other such activities.This is a segment generally dominated by the state-run shipbuilders Mazagon Dock Shipbuilders, Cochin Shipyard and Garden Reach Shipbuilders.
The company has also announced plans to foray into the “Signalling and safety systems” business, where the company will, subject to compliance, undertake activities relating to railway signalling and safety, including but not limited to train control and condition monitoring.Titagarh said that this segment will focus on railway operations and will be involved in development and installation of products that enable smooth and secure train operations.Saket Kandoi, who is the Director of the Freight Rolling Stock of the company, has been given the responsibility of the Maritime business of the company.Shares of Titagarh Rail ended 4.5% lower on Monday at ₹913. The stock has more than halved from its peak ₹1,896, declining 51%.
