homebusiness NewsRebranding Announcement | Titagarh Wagons to focus on rail related solutions, rebrands as Titagarh Rail Systems
Rebranding Announcement | Titagarh Wagons to focus on rail-related solutions, rebrands as Titagarh Rail Systems
In an interview with CNBC-TV18, Umesh Chowdhary, VC and MD of Titagarh Wagons said that with the new name, Titagarh Rail Systems aims to showcase its expertise in not just wagon manufacturing, but also various other aspects of rail infrastructure development and modernization.
Titagarh Wagons, a leading manufacturer of railway wagons, has announced a major transformation. The company will be renamed Titagarh Rail Systems, reflecting its expanded scope and enhanced capabilities in the railway industry.
In an interview with CNBC-TV18, Umesh Chowdhary, VC and MD of Titagarh Wagons, said that the new name will better reflect the company's expertise in a wide range of rail-related activities, including wagon manufacturing, rail infrastructure development, and modernisation.
"The name of the company has now changed from Titagarh Wagon to Titagarh Rail Systems," Chowdhary said. "We got the shareholder and the ROC approval earlier this week. It is reflective of the shift in the business strategy of the company. We also decided to merge the shipbuilding, which is in defense segment with the freight rail system segment, which we declared to the market."
Also Read | BHEL-Titagarh Wagons consortium receives order to supply 80 Vande Bharat trains at Rs 120 crore per train
This strategic rebranding and merger have already started to generate positive market sentiments. Investors have responded favourably to the announcement, leading to a significant surge in the company's stock. As a result, Titagarh Rail Systems' stock has witnessed an impressive increase of 5%, reflecting the confidence and trust investors have in the company's strategic direction and growth prospects.
The name change is part of a broader effort by Titagarh Wagons to expand its reach and become a more comprehensive provider of rail-related solutions. The company is also investing heavily in research and development, with the goal of developing new technologies and products that will help it meet the needs of its customers.
"We are committed to providing our customers with the best possible products and services," Chowdhary said. "The name change is a reflection of our commitment to innovation and our vision for the future."
For more details, watch the accompanying video
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