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Timex Group India Ltd.

BSE: 500414 Sector: Others
NSE: TIMEXWATCH ISIN Code: INE064A01026
BSE 15:01 | 24 Feb 36.00 -0.35
(-0.96%)
OPEN

35.25

HIGH

36.90

LOW

35.25

NSE 05:30 | 01 Jan Timex Group India Ltd
OPEN 35.25
PREVIOUS CLOSE 36.35
VOLUME 11024
52-Week high 56.85
52-Week low 29.40
P/E 40.45
Mkt Cap.(Rs cr) 364
Buy Price 35.80
Buy Qty 387.00
Sell Price 36.00
Sell Qty 10.00
OPEN 35.25
CLOSE 36.35
VOLUME 11024
52-Week high 56.85
52-Week low 29.40
P/E 40.45
Mkt Cap.(Rs cr) 364
Buy Price 35.80
Buy Qty 387.00
Sell Price 36.00
Sell Qty 10.00

Timex Group India Ltd. (TIMEXWATCH) - Company History

Timex Watches (TWL) was incorporated on 4 Oct.'88 and received the certificate of commencement of business on 5 Jan.'89. The company was promoted by Titan Watches (a Tata group company) and Timex Corporation, US, to manufacture 2.5 mln watches at Noida, UP, at a cost of Rs 825 mln. Currently, Timex, US, holds a 29.68% stake in the company. In Aug.'93, the company came out with a public issue of 35.74 lac 12.5% PCDs of Rs 140 each, aggregating Rs 50.04 cr, to part-finance its project to manufacture wrist watches at its plant in Noida. TWL mainly caters to the low and middle price range of watches, providing value for money. The company has marketing and selling arrangements to use Titan Industries marketing network of over 4300 outlets all over the country and 172 high-profile showrooms and shops. The company commenced a project for the manufacture of metal cases utilising vacuum plating in May '95. During 1999-2000, the accumulated losses of the company exceed 50% of its net worth and in order to improve the net worth the company issued 4500000 equity shares of Rs 10/- at a premium of Rs 14.25 per share. The company is planning to improve productivity in Two-Tone plating and implement Kanban System in Component Fabrication shops. The company is uniquely poised to take advantage of this trend being at the forefront of developing technology for watches and wrist instruments for consumers around the world.