Friday , October 22 2021

Titan Company gains on completing exit from Montblanc JV

Titan Company is currently trading at Rs. 1485.20, up by 2.70 points or 0.18% from its previous closing of Rs. 1482.50 on the BSE.

The scrip opened at Rs. 1490.00 and has touched a high and low of Rs. 1493.15 and Rs. 1471.25 respectively. So far 23839 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1620.95 on 06-Jan-2021 and a 52 week low of Rs. 720.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1507.25 and Rs. 1445.30 respectively. The current market cap of the company is Rs. 131703.08 crore.

The promoters holding in the company stood at 52.90%, while Institutions and Non-Institutions held 29.80% and 17.30% respectively.

Titan Company has completed its exit from joint venture (JV) Montblanc India Retail (MB India), which operates retail boutiques in the country for Montblanc products.

The company held 49 percent equity stake in MB India. Consequently, MB India ceases to be an associate/ JV company of the company with effect from March 12, 2021.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.

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