Titan Company Ltd.

Titan Company has reportedly received approval from Reserve Bank of India (RBI) to hedge more gold in the international market. This approval will help the company save its finance costs and avoid the risk of recording mark-to-market loss. RBI has allowed the company an increase in hedging limit from the current 4 tonnes to 9 tonnes.

Titan 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.