Shares of Titan Company Ltd crossed the Rs 1 trillion market cap (market capitalization) mark on Thursday on hitting a new all-time high of Rs 1,135 apiece on BSE. Previously, the stock had hit a high of Rs 1,123 on 12 March 2019.
On touching the share price of Rs 1,129 during the afternoon session, the market cap of the Tata Group company hit Rs 100,231 crore.
According to the BSE's data, 29 listed companies on the exchange are above the Rs 1 trillion market capital mark.
The stock has been performing well this year, rallying as much as 21 percent, outperforming the benchmark index. The company's performance in the third quarter of the financial year 2018-19 was also encouraging with a 41.6 percent growth in net profit to Rs 416 crore. The major driver of the company's profit was increased sales in the jewellery section, which saw a 37 percent growth. Analysts suggest that the shift of demand in the retail jewellery from unorganized to organized sector post demonetization and GST benefited the company.
The consumer goods company is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation that retails watches (Titan, Sonata and Fastrack), perfumes (Skinn) and jewellery (Tanishq), among others.