Page 7 - Titan

Titan Company Q2FY24 result: Net profit at Rs 916 cr; income up 37%

Titan Company Q2 result: The total income for Q2FY24 came in at Rs 12,653 crore, compared to Rs 9,224 crore y-o-y, registering a rise of 37.17 per cent

Titan shares climb over 2% as it posts 9.7% rise in Sept quarter earnings

Shares of jewellery and watchmaker Titan Company Ltd on Friday rose over 2 per cent after the firm reported an increase of 9.7 per cent in its consolidated net profit in the September quarter. The stock went up by 2.23 per cent to close at Rs 3,272.55 on the BSE. During the day, it jumped 2.66 per cent to Rs 3,286.70. At the NSE, it gained 2.28 per cent to touch Rs 3,274.50. Titan Company Ltd on Friday reported an increase of 9.7 per cent in consolidated net profit at Rs 916 crore in the second quarter of the current fiscal, led by sales of jewellery in the domestic market. The company posted a net profit of Rs 835 crore in the July-September period last year, the Tata Group-managed firm said in a regulatory filing. Titan's sales increased 25 per cent to Rs 10,708 crore during the quarter under review as against Rs 8,567 crore in the corresponding quarter a year ago. Its total expenses in the quarter under review stood at Rs 11,402 crore, up 41.07 per cent year-on-year.

Titan to raise Rs 2,500 cr via unsecured NCDs on private placement basis

Leading jewellery and watchmaker Titan on Tuesday said it will raise Rs 2,500 crore from the markets through unsecured Non-Convertible Debentures (NCDs) on a private placement basis. The board of the company in a meeting on Tuesday "approved the proposal for raising of funds through the issuance of rated, listed, redeemable, unsecured NCDs" for Rs 2,500 crore, said a regulatory filing from the Tata group managed firm. The board also authorised a committee to take action with respect to the finalisation of terms of issuance and the allotment of NCDs. Besides, the board, at the said meeting, had also approved "availing of long-term borrowings in the form of long-term unsecured loans up to a limit of Rs 1,000 crore from banks/financial institutions," it added. Besides, the company also informed about the change in nominee. "The board took note of the nomination of Arun Roy, IAS, Secretary, Industries Investment Promotion and Commerce Department, Tamil Nadu Government as Chairman and

Retail cos expected to witness muted growth in Q3 after weak demand in Q2

In the apparel sector, few wedding dates and lingering weak consumption patterns are expected to hinder growth for companies

Stocks to Watch: Titan, Bank of Baroda, MCX, Birla Corp, TCS, REC, PFC

Stocks to watch on October 11, 2023: MCX said it will go live on the new commodity derivative trading platform from October 16, after a mock session on October 15

Titan posts 20% Q2 revenue growth, Jewellery biz reports 19% revenue growth

Leading jewellery and watchmaker Titan on Friday reported a 20 per cent growth in standalone revenue for the second quarter ended September 30, 2023. During the period, it added 81 stores across verticals, taking the group's retail presence to 2,859 outlets, according to a quarterly update by Titan. Its jewellery division reported a revenue growth of 19 per cent. Building on the positive first quarter momentum, domestic consumer sales (secondary) exhibited strong year-on-year growth and were led by double-digit increase in buyers and ticket sizes. Moreover, as part of its global expansion, its jewellery brand Tanishq expanded its Gulf Cooperation Council (GCC) presence by entering Qatar and adding two new boutiques in Doha. The Jewellery Division added 39 stores, taking the total count to 598. The Watches & Wearables (W&W) Division's domestic business grew 32 per cent. This comprises 22 per cent growth in the Analog watches and over two-fold growth in Wearables. "The Wearables

Tata's jewellery brand Titan in talks to debut rupee bond worth Rs 3,000 cr

The bond would be Titan's first in rupees, according to Bloomberg-compiled data

Tata Group's Titan to open nine new Tanishq stores in Gujarat by FY24-end

Tata Group's Titan Company plans to open nine new stores of its jewellery brand Tanishq in Gujarat in the coming months, taking the number of stores to 28 in the state by the end of this fiscal, a top company official said here on Friday. Moreover, the company is also planning to expand its overseas presence by opening international stores in countries including the United States and Australia in the near future, said C K Venkataraman, Managing Director of Titan Company Ltd. "We currently have 19 Tanishq jewellery stores in Gujarat. By the end of the financial year 2023-24 in March, we will add nine more stores in different cities of the state and take the tally to 28," said Venkataraman while talking to reporters after the re-launch of a Tanishq store in Shivranjani area of the city on Friday. New stores would come up in cities like Ahmedabad, Gandhinagar, Surat, Bhuj, Valsad and a few in Saurashtra region, said the Titan MD. To cater to the Indian diaspora living in other countri

Top headlines: All eyes on Chandrayaan-3 landing, 28% GST move, and more

Business Standard brings you the top headlines at this hour

Stocks to Watch: Torrent Pharma, Cipla, TVS Supply Chain, Titan, AdaniTotal

Stocks to Watch on August 23, 2023: Torrent Pharma has joined the race to buy out Cipla's promoter stake held by the Hamied family, reported The Economic Times

Caratlane another jewel in Titan's crown; analysts positive on prospects

Although the Rs 4,621 crore deal may weigh on Titan's earnings in the short-term, analysts are positive on the long-term prospects

Titan set to buy out Esops of CaratLane staffers for Rs 350 crore

The transaction is anticipated to be finalised by October 31 of this year, subject to regulatory approvals

Stocks to Watch: Jio Financial, Titan, Gujarat Gas, Tanla Platforms, KEC

Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing

Titan buys additional 27.1% stake in CaratLane for Rs 4,621 crore

Upon completion of the deal, Titan will hold 98.28 per cent of equity in CaratLane-a private company engaged in the manufacture and sale of jewellery

Stocks to Watch on Aug 3: Titan, IndiGo, MMTC, Airtel, Adani Ent, Nykaa

Stocks to Watch today, August 3, 2023: Titan Co reported a lower-than-expected quarterly profit at Rs 770 crore

Sensex sheds 505 pts from summit, ends 165 pts up; PSU banks crack; IT gain

CLOSING BELL ON JULY 13, 2023: The NSE Nifty50 hit a new high of 19,567, before finishing with a modest gain of 29 points on Thursday. Broader indices ended in red.

Sensex sinks 505 pts, Nifty gives up 19,350 amid global weakness; PSBs soar

Closing Bell on July 7, 2023: PowerGrid, IndusInd Bank, HUL, NTPC, Bajaj Finance, HCL tech, Tech M, L&T, Asian Paints, ICICI Bank, ITC, Kotak Bank, Infosys, and HDFC twins declined up to 3 per cent

Titan revenue grows 20% in Q1 FY24 on strong performance in key businesses

The company also said that the key categories of gold and studded grew well with no notable change in the overall product mix

OceanGate website still selling trips to Titanic after deadly sub implosion

The departure dates for the 2024 missions are listed for June 12 and June 21

Will the Titanic sub disaster tank the submersible tourism industry?

They use propellers to drive the vessel under water, rather than having to fall like a rock and using ballast tanks for stabilization, as with the Titan