Titan Company gains on credit rating upgrade
Titan Company rose 0.96% to Rs 1506 after the ratings agency ICRA upgraded the company's long-term rating to [ICRA] AAA with stable outlook. The credit rating issuer has also reaffirmed the short-term rating and the rating for the fixed deposit programme of the company. ICRA said that the rating upgrade reflects ICRA's expectation that Titan Company (Titan) will be able to leverage its strong brands and market leadership position in the jewellery segment to drive sustained growth in revenues and accruals. The segment has shown high resilience to COVID-19 related disruptions and reported 16% Y...