Shares of Titan Company hit a record high of Rs 1,679.60 after they rallied 6 per cent on the BSE in intra-day trade on Wednesday amid the expectation of a strong recovery, due to pent up demand and market share gains. The stock of Tata Group Company surpassed its previous high of Rs 1,620.95, touched on January 6, 2021. With today’s rally, it has recovered 20 per cent from its recent low of Rs 1,401, hit on May 4 in intra-day trade. With a sharp surge in the market price of Titan Company, its market capitalisation stands close to the Rs 1.5 trillion mark. At 11:42 am, the stock was up 5.5 per cent at Rs 1,672, with a market capitalisation of Rs 1.48 trillion, the BSE data shows.
Read more about Titan Company gains 6% in two days; stock nears record high on Business Standard. With the past two day s rally, it has recovered 15 per cent from its recent low of Rs 1,401, hit on May 4, in intra-day trade
Shares of Titan Company dipped 4.5 per cent to Rs 1,425 on the BSE in intra-day trade on Monday, falling 6 per cent in the past three trading days after the company announced its March quarter earnings on Thursday, April 29. The stock of the Tata Group Company was the top loser among the S&P BSE Sensex and Nifty50 indices, which were down less than 1 per cent, at 01:10 pm.
In Q4FY21, Titan Company continued to witness strong business momentum in the quarter and recorded revenue of Rs 7,110 crore (excl. bullion sale), growth of 61 per cent year on year (YoY), led by strong growth of 70 per cent in Jewellery division. The base quarter, Q4FY20, was weak due to lockdowns in second half of March. Profit after tax grew 48 per cent at Rs 357 crore over the previous year quarter.
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