Titan Company Ltd.

Investor and trader Rakesh Jhunjhunwala with his wife Rekha Jhunjhunwala have offloaded 1.10% stake in Titan industries during Q4FY13 due to falling gold prices and a bleak outlook for the yellow metal. Post the stake sale, their holding in the company decreased to 9.21% in the March quarter from 10.31% as at end December quarter.

Titan Industries is India’s largest manufacturer of quartz watches and has a 60% market share in the Indian market. It is world’s sixth largest manufacturer of branded watches. It has a manufacturing and assembly unit at Hosur in Tamil Nadu.