Titan Industries gains on plan to tap women segment for growth

Titan Company Ltd. | Diamond & Jewellery | Consumer Durables | BSE: 500114 | NSE: TITAN

30 Dec 2011 Evaluate

Titan Industries is currently trading at Rs. 173.45, up by 0.90 points or 0.52% from its previous closing of Rs. 172.55 on the BSE.

The scrip opened at Rs. 173.90 and has touched a high and low of Rs. 174.70 and Rs. 172.00 respectively. So far 70107 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 238.25 on 14-Jun-2011 and a 52 week low of Rs. 147.16 on 10-Feb-2011.

Last one week high and low of the scrip stood at Rs. 178.45 and Rs. 166.10 respectively. The current market cap of the company is Rs. 15447.48 crore.

The promoters holding in the company stood at 53.38 % while Institutions and Non-Institutions held 18.77 % and 27.85% respectively.

Titan Industries, country's largest watch maker is planning to target the under- penetrated women segment which has huge potential in the market. Presently, company has just about 15-18% watch ownership amongst Indian women.

Titan’s exclusive brand Raga, which was introduced in 1992 still evolved with changing consumer tastes. Titan roped in actor Katrina Kaif as Raga's brand ambassador to appeal to the progressive Indian woman. Raga is currently available in a wide price spectrum from Rs 1,500 to Rs 22,000. Raga now sells in over 4,500 outlets across the country.

The company aims turnover of Rs 400 crore from the brand Raga this fiscal, up from Rs 315 crore during last financial year. Other than Raga it is also tapping into the women's segment through its other offerings like Titan and Sonata. About 40 % of Titan's watch sales come from the women's segment, up from about 30% six years ago. Titan Industries reported sales of Rs 6,520.89 crore last fiscal. The watch division has a 70% share of the organized domestic market.