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Titan Hits Record High; Market Cap Increases To Over Rs 1 lakh crore


Titan Company in the morning trade hit a record high of Rs. 1,160, with a gain of 1%, taking the market cap of the stock to over Rs. 1 lakh crore.

With today's gain in the stock price, the market capitalization of the jewellery to watch manufacturer stands at Rs 1,02,832.27 crore. On good management outlook and earnings growth, the stock in the past one year has surged by as much as 25%.

Titan Hits Record High; Market Cap Increases To Over Rs 1 lakh crore

Titan early in the month said the company expects to realize a revenue growth of 20% despite subdued growth in industry demand in FY19.

The expectations are largely based on company's achievements so far that include addition of 35 more stores in FY19, larger share of high-value diamond and wedding jewellery, sales growth of 20% in jewellery business, stable growth in watch division on the back of the success of smart watches and new launches and advantages reaped through backward integration in the eyewear business.

At 10:40 am, the stock was quoting at Rs 1159.05, up Rs. 11.5, or 1% on the BSE.

Read more about: titan market cap
Story first published: Thursday, April 25, 2019, 10:54 [IST]
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