Titagarh Rail Systems Limited
HSBC Mutual Fund increased its stake in Titagarh Rail Systems from 1.88% to 2.77%, raising its shareholding from 2,537,000 to 3,726,643 shares. HSBC Global Research has maintained a "buy" recommendation on Titagarh Rail Systems, raising the target price to ₹2,000 from ₹1,200.
A manufacturer of railway equipment serving domestic and export markets, Titagarh Rail produces freight wagons, passenger coaches, metro trains, and train electrical systems. The company also manufactures steel castings, specialized equipment, bridges, and ships. Its diversified portfolio across rail infrastructure and transport solutions positions it as a vertically integrated player in India's railway manufacturing sector since its incorporation in 1997.
Indian arm of HSBC Asset Management, the investment arm of HSBC Group with over USD 600 billion in global AUM. Manages over Rs 1 lakh crore in India across equity, debt and hybrid schemes. Previously known for integration of L&T Mutual Fund schemes after acquiring it from L&T Finance in 2022, which significantly expanded the franchise.