Titan Company is currently trading at Rs. 1009.35, up by 11.60 points or 1.16% from its previous closing of Rs. 997.75 on the BSE.
The scrip opened at Rs. 1003.80 and has touched a high and low of Rs. 1010.60 and Rs. 986.80 respectively. So far 56875 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1389.85 on 25-Oct-2019 and a 52 week low of Rs. 720.00 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 1011.75 and Rs. 941.80 respectively. The current market cap of the company is Rs. 88578.86 crore.
The promoters holding in the company stood at 52.91%, while Institutions and Non-Institutions held 28.72% and 18.38% respectively.
ICRA has assigned AA-plus rating to Titan’s Rs 1,700 crore fund-based instrument and A1-plus to Rs 1,500 crore commercial paper with outstanding outlooks. The ratings reflect the company’s leadership position in organised jewellery, watches and eyewear segments supported by its strong brands, integrated manufacturing capability, wide distribution and service networks and diversified product portfolio in terms of price points and styles.
The company’s jewellery segment grew at 6% year-on-year during FY20 despite the moderation in volumes due to higher gold prices and COVID-19 related lockdowns in the latter half of March. The company has robust financial profile with strong cash accruals, moderate capital expenditure requirements, comfortable leverage metrics and strong liquidity.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
