Titan share price: Stock market news: Titan Company shares rise nearly 1%

NEW DELHI: Shares of Titan Company Ltd. traded 0.69 per cent up in Thursday’s trade at 11:36AM (IST). Around 27,419 shares changed hands on the counter.

The scrip opened at Rs 1220.5 and touched an intraday high and low of Rs 1232.65 and Rs 1212.25, respectively, in the session so far. The stock of Titan Company Ltd. quoted a 52-week high of Rs 1389.85 and a 52-week low of Rs 720.

Total market cap of the Titan Company Ltd. stood at Rs 109064.53 crore at the time of writing this report.

Ace investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala sold 50,000 shares of Titan in the September quarter, according to a latest regulatory filing.

Key Financials

The company reported consolidated net sales of Rs 1368 crore for the quarter ended 30-Jun-2020, down 70.37 per cent from previous quarter’s Rs 4617.31 crore and down 73.15 per cent from the year-ago quarter’s Rs 5095.1 crore.

The net loss for latest quarter stood at Rs 291.0 crore.

Shareholding pattern

As of 30-Sep-2020, domestic institutional investors held 4.63 per cent stake in the company, while foreign institutional investors held 18.05 per cent and the promoters 52.9 per cent.

Valuation ratio

According to BSE data, the stock traded at a price-to-earnings multiple of 130.98 and a price-to-book ratio of 12.43. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Titan Company Ltd. belongs to the Jewellery Retail industry.

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