Tata group firm Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter
Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels
Markets regulator Sebi on Friday imposed monetary penalty on an employee of Titan Company Ltd for disclosure lapses, in violation of insider trading norms
Sebi had received a letter from Titan, intimating the regulator about contravention of insider trading norms
Capital markets regulator Sebi on Tuesday penalised six individuals for violating insider trading norms in the matter of Titan Company Ltd. The regulator has levied a fine of Rs 1 lakh each on Muniraj Radhakrishnan, Gangadhar Sudheer Kallihal, Punit Juneja, Jayraj P, Arjun Ramji Vishwakarma and Mekat George. In six separate orders, Sebi said these individuals were employees or designated persons of Titan at the time of the violation. While in employment of Titan, they had transacted in securities of the company on two occasions between the quarter ended June 2018 and March 2019. The total traded value of the securities by each of them was in excess Rs 10 lakh. Under the norms, they were required to make disclosures to Titan for each of the transactions within two working days. However, they did not make the disclosures. By doing so, they violated the prohibition of insider trading (PIT) norms. They have contended that were not aware about Sebi Act, PIT regulations and the compan
Total income during the quarter under review stood at Rs 3,519 crore. It was Rs 2,020 crore earlier, Titan said in a regulatory filing.
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The company, however, said it is moving ahead with "calmness and composure" and is confident of overcoming all the challenges.
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Revenue for the quarter rose 59 per cent over the previous year to Rs 7,494 crore, against a forecast of Rs 7,516.8 crore
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Higher raw material costs will put pressure on profitability
During the March quarter of the financial year 2020-21 (Q4FY21), Rakesh Jhunjhunwala offloaded a 0.26 percentage point stake, or 2.25 million shares, in Titan Company
Product mix and salary reinstatement could put pressure on margins