Titan Company surges as Tata Sons plans to buy 2.18% stake

07 Aug 2015

Titan Company is currently trading at Rs. 331.70, up by 3.90 points or 1.19% from its previous closing of Rs. 327.80 on the BSE.

The scrip opened at Rs. 327.80 and has touched a high and low of Rs. 332.45 and Rs. 324.75 respectively. So far 63827 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 448.00 on 03-Feb-2015 and a 52 week low of Rs. 314.50 on 04-Aug-2015.

Last one week high and low of the scrip stood at Rs. 332.45 and Rs. 314.50 respectively. The current market cap of the company is Rs. 29296.94 crore.

The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 24.79% and 22.16% respectively.

Tata Sons, the holding company of the Tata Group, is planning to acquire 2.18% stake in Titan Company at an estimated price of over Rs 680 crore increasing its holding to 19.59 per cent from the current 17.40%.

Tata Sons will acquire the stake as part of restructuring its investment portfolio. The proposed date of acquisition is on or after August 11 and that the shares would be acquired at the prevailing price on the date of acquisition.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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