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As of date, CaratLane is a subsidiary of Titan wherein it holds a 99.64% stake. The completion of the aforesaid share purchase would result in CaratLane becoming a wholly-owned subsidiary of the company.
While Reliance Retail started in 2006, it overcompensated for its late entry by aggressively opening stores across formats. Reliance has over 18,774 stores across supermarkets, electronics, jewellery, and apparel space. It has also either partnered or acquired over 80 global brands, from Gap and Superdry to Balenciaga and Jimmy Choo. A diverse portfolio of brands across various segments through strategic partnerships and collaborations helps an entity like Reliance to leverage synergies and enhance retail presence, especially in malls, experts said.
Among the Sensex stocks, Axis Bank, SBI, Asian Paints, Titan, and M&M were the top gainers, rising 1-2%. Power Grid, Infosys, Wipro, HCL Tech, and Tech Mahindra opened lower.
TCS ended 4% higher on Tuesday as its market value crossed the Rs 15 lakh crore milestone for the first time. Both Tata Motors as well as Tata Steel are near their 52-week peaks, while another Nifty stock Titan is up 23% in 6 months.
Titan reported 9% growth in its standalone net profit at Rs 1040 crore in the third quarter. Revenue from operations jumped 20% year-on-year to Rs 13,052 crore.
Titan Company Ltd. key Products/Revenue Segments include Jewellery, Watches, Other Operating Revenue, Eyewear, Others, Precious & Semi Precious Stones, Scrap, Other Services for the year ending 31-Mar-2023.
On Thursday, Titan reported a 9% year-on-year (YoY) growth in its standalone net profit at Rs 1,040 crore in the third quarter. It was Rs 951 crore a year ago. The profit figure was lower than the ET NOW poll estimate of Rs 1,159 crore. Revenue from operations jumped 20% YoY to Rs 13,052 crore in the reporting quarter, compared with Rs 10,875 crore in the last year quarter.
Godrej Consumer's consolidated net profit rose 6% year-on-year to Rs 581 crore in the December quarter. Revenue from operations during the third quarter increased 2% year-on-year to Rs 3,660 crore.
India Business News: Indian jeweller and watch maker Titan Company reported third-quarter profit below estimates on Thursday as escalating costs of bullion outshined demand during the festive season. Find out more about the financial performance and challenges faced by Titan in this article.