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Timex Group India Ltd.

BSE: 500414 Sector: Others
NSE: TIMEXWATCH ISIN Code: INE064A01026
BSE 00:00 | 26 Feb 28.95 -0.55
(-1.86%)
OPEN

28.60

HIGH

29.50

LOW

28.60

NSE 05:30 | 01 Jan Timex Group India Ltd
OPEN 28.60
PREVIOUS CLOSE 29.50
VOLUME 17807
52-Week high 35.05
52-Week low 14.25
P/E
Mkt Cap.(Rs cr) 292
Buy Price 28.80
Buy Qty 220.00
Sell Price 28.95
Sell Qty 5000.00
OPEN 28.60
CLOSE 29.50
VOLUME 17807
52-Week high 35.05
52-Week low 14.25
P/E
Mkt Cap.(Rs cr) 292
Buy Price 28.80
Buy Qty 220.00
Sell Price 28.95
Sell Qty 5000.00

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.

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