Page 5 - Titan

Employee who called Titan unsafe testifies firm only wanted to make money

A key employee who labelled a doomed experimental submersible unsafe prior to its last, fatal voyage testified Tuesday that he frequently clashed with the company's co-founder and felt the company was committed only to making money. David Lochridge, OceanGate's former operations director, is one of the most anticipated witnesses to appear before a commission trying to determine what caused the Titan to implode en route to the wreckage of the Titanic last year, killing all five on board. His testimony echoed that of other former employees Monday, one of whom described OceanGate head Stockton Rush as volatile and difficult to work with. The whole idea behind the company was to make money, Lochridge said. There was very little in the way of science. Rush was among the five people who died in the implosion. OceanGate owned the Titan and brought it on several dives to the Titanic going back to 2021. Lochridge's testimony began a day after other witnesses painted a picture of a troubled

Employee who called Titan submersible unsafe to testify before Coast Guard

A key employee who labelled an experimental submersible unsafe prior to its last, fatal voyage was set to testify Tuesday before US Coast Guard investigators. David Lochridge is one of the most anticipated witnesses to appear before a commission trying to determine what caused the Titan to implode en route to the wreckage of the Titanic last year, killing all five on board. Lochridge is former operations director for OceanGate, the company that owned the Titan and brought it on several dives to the Titanic going back to 2021. His testimony will come a day after other witnesses painted a picture of a troubled company that was impatient to get its unconventionally designed craft into the water. The accident set off a worldwide debate about the future of private undersea exploration. Among those killed was Stockton Rush, co-founder of OceanGate. The company, based in Washington state, suspended its operations after the implosion. OceanGate's former engineering director, Tony Nissen,

Titan gains 3%, hits nearly five-month high on decline in gold prices

In the past one month, Titan has outperformed the market by surging 10 per cent, compared to the 4.5 per cent rise in the BSE Sensex during the period.

Retail sector slashes 26,000 jobs due to falling demand, expansion halt

The reduction was primarily driven due to Reliance, Titan, Raymond, Page, and Spencers, which cut 52,000 jobs, or 17% of their workforce

Crew of Titan sub knew they were going to die, according to lawsuit

The family of a French explorer who died in a submersible implosion has filed a more than USD 50 million lawsuit, saying the crew experienced terror and mental anguish before the disaster and accusing the sub's operator of gross negligence. Paul-Henri Nargeolet was among five people who died when the Titan submersible imploded during a voyage to the famed Titanic wreck site in the North Atlantic in June 2023. No one survived the trip aboard the experimental submersible owned by OceanGate, a company in Washington state that has since suspended operations. Known as Mr. Titanic, Nargeolet participated in 37 dives to the Titanic site, the most of any diver in the world, according to the lawsuit. He was regarded as one of the world's most knowledgeable people about the famous wreck. Attorneys for his estate said in an emailed statement that the doomed submersible had a troubled history, and that OceanGate failed to disclose key facts about the vessel and its durability. According to the

Titan tanks 8% after tepid Q1FY25 show: Should you buy, sell or hold?

Shares of Titan fell 7.56 to Rs 3,201 per share on the BSE in Monday's intraday deals. This came after the company reported a marginal decline in net profits on a year-on-year (YoY) basis

Stocks to Watch on August 5: Infosys, SBI, Titan, Britannia, Ambuja Cement

At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.

Titan Q1 results: Net profit declines 5% to Rs 715 crore, misses estimates

The Tata group-owned company reported a 5% fall in consolidated profit to Rs 715 crore ($85.4 million) in the quarter ended June 30, from Rs 756 crore an year ago

Retail jewellery sector: Indriya entry adds lustre to formalisation

Aditya Birla joins the fray of an already booming jewellery retail market

Jigar S Patel of Anand Rathi recommends buying these three stocks today

From a technical standpoint, the daily chart has revealed an inverse head and shoulders pattern with a neckline at Rs 1,620 & Bajaj Finserv stock is holding steady above this level around Rs 1,640.

Downgrades, competition likely to keep Titan Company's stock under pressure

Titan reported sales growth of about 9 per cent Y-o-Y in Q1FY25

Jewellery brand Titan reports 9% revenue growth in Q1, adds 61 stores

Leading jewellery and watchmaker Titan on Friday said it clocked a standalone revenue growth of 9 per cent in the first quarter ended June 30, 2024. The Tata Group-managed firm added 61 stores during April-June FY25, taking its combined retail network presence to 3,096 stores. Its jewellery division, which contributes over three-fourths of its revenue, reported 9 per cent growth in the domestic market and added 34 stores. "The auspicious week of Akshaya Tritiya witnessed double-digit growths (in Tanishq secondary sales) compared to the same period last year. However, high gold prices and their continued firmness had an impact on consumer demand," it said. Moreover, the quarter has lower wedding days and overall sentiments were "relatively muted" in comparison to Q1/FY24. "Domestic growth came largely through an increase in average selling prices whereas buyer growth was in low single digit. Gold (plain) grew in high single digit while studded growth was moderately lower in ...

Titan partners with Rhythm; launches jewellery brand Tanishq in Bangladesh

Titan Company on Saturday said it is launching its jewellery brand Tanishq in Bangladesh as part of expansion plans in the international market. On Friday, the Tata Group-managed firm signed a JV agreement to this effect with Rhythm Group which will make Tanishq available across the Bangladesh market, according to a joint statement. The joint venture will commence with the opening of the manufacturing facility in Narayanganj, in Bangladesh, it added. Besides the domestic market, Titan is expanding Tanishq's presence in the international market and operates 17 stores across the UAE, US, Qatar, Singapore and Oman. Its watch business has a presence in SAARC, MENA (Middle East and North Africa), Southeast Asian regions. In the last few years, it has focused on growing its flagship jewellery brand Tanishq overseas. Rhythm Group is a prominent entity in Bangladesh that was established in 1972 to produce desi textile fabrics and since then it has expanded into several verticals. Through

Titan launches first retail outlet for premium sunglasses in Bengaluru

The company estimates the Indian Premium Sunglasses market is Rs 800 crore with a projected CAGR of 10%

Smart watch sales grew 5x but now slowing: Titan CEO Suparna Mitra

Mitra points out that Titan has seen a slow but subtle shift in the buying habits of women. In the last seven years the share of women's watches has gone up from 40 per cent to 45 per cent

Motilal Oswal initiates coverage on Kalyan Jewellers, Senco; details here

Overall, the jewelley sector has seen an approximately 8 per cent revenue CAGR during FY19-24, reaching Rs 6,40,000 crore in market value, with the organised segment growing at 18-19 per cent

Lifestyle accessories major Titan's near-term margin headwinds on watch

Watch and jewellery maker prioritising sourcing, pricing, product innovation, and operational efficiencies

Buy Muthoot Finance, Sell Titan June futures, recommends Religare Broking

Muthoot Finance has been in a steady uptrend for over 10 months, consistently forming higher highs and lows with a gradual increase in volumes

Shriram Fin, JublFood, Titan; top picks from Anand Rathi for May 18

Jubilant FoodWorks has two key technical analysis signals: a bull divergence on the daily Moving Average Convergence Divergence (MACD) indicator and a violation of a bearish trend line that had been

Titan stock price drops 7% on May 06. Why brokerages have cut target price

Analysts attribute this margin miss to heightened competitive pressure due to a spike in gold prices