Titan Company Ltd.

Titan Company is currently trading at Rs. 241.50, up by 6.35 points or 2.70% from its previous closing of Rs. 235.15 on the BSE.

The scrip opened at Rs. 237.00 and has touched a high and low of Rs. 243.45 and Rs. 236.50 respectively. So far 172313 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 302.00 on 30-May-2013 and a 52 week low of Rs. 200.00 on 13-Jun-2013.

Last one week high and low of the scrip stood at Rs. 238.00 and Rs. 226.00 respectively. The current market cap of the company is Rs. 21528.81 crore.

The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 23.55% and 23.39% respectively.

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.