Titan Company gains on plan to complete acquisition of Caratlane in a month

12 May 2016

Titan Company is currently trading at Rs. 371.35, up by 1.60 points or 0.43% from its previous closing of Rs. 369.75 on the BSE.

The scrip opened at Rs. 371.55 and has touched a high and low of Rs. 374.70 and Rs. 370.50 respectively. So far 17563 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 392.00 on 26-Nov-2015 and a 52 week low of Rs. 303.00 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 372.80 and Rs. 352.05 respectively. The current market cap of the company is Rs. 33003.45 crore.

The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 25.31% and 21.63% respectively.

Titan Company will complete the all-cash acquisition of online jewellery portal ‘Caratlane’ within a month’s time. The company is currently engaged is in the valuation procedures.

Caratlane operates in an omni-channel approach with 13 offline stores in Bengaluru, Delhi-NCR, Hyderabad, Coimbatore, Chandigarh, Chennai, Thane and Pune.

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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