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When Rakesh Jhunjhunwala ripped into Titan over 'miserly' dividend


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MUMBAI: Rakesh Jhunjhunwala, a prominent investor and the largest non-institutional minority shareholder of Titan Company, on Thursday tore into the company management over their dividend payout for the previous financial year and the dividend policy, in general.
The maker of Tanishq branded jewellery announced a final dividend of Rs 4 per share along with its March quarter and full year earnings. The dividend payout is 40 per cent of the company’s net income, and highest ever, but only optically so.
Titan had announced a similar dividend for the financial year ending March 2020. However, because of the 42 per cent drop in the company’s net profit in 2020-21, the dividend payout ratio appeared substantially higher. ....

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rakesh jhunjhunwala: This Jhunjhunwala favourite shows promise in Q3. Will it remain a jewel in his crown?


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NEW DELHI: Titan Company s financial results for the December quarter drew mostly positive reactions from analysts, with some of them raising their EPS estimates on a better-than-expected recovery in sales.
The stock one of ace investor Rakesh Jhunjhunwala s favourites forms a major chunk of the Big Bull s wealth, even though lately he has trimmed his stake in the jewellery maker.
Titan said on Wednesday that its profit for the quarter stood at Rs 419 crore, dented by a one-time loss of Rs 137 crore. While its jewellery business grew 16 per cent on a year-on-year basis, its watches and wearables and eyewear divisions also did well, with the recovery rate for the quarter being 88 per cent and 93 per cent respectively, the company said. ....

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Titan Q3 preview: Strong marriage season to drive recovery in jewellery segment


Pent up demand seen for wedding jewellery
Good recovery seen in Watches and Eyewear segment
Titan s recovery has been better than expected for the October to December quarter. For Q3FY21, we expect Titan s revenue to grow ~13 per cent on a Year on Year basis, on account of sharper recovery in jewellery segment.
The Jewellery segment which accounts for around 80 per cent of their revenue is back in the growth phase and expected to grow at ~15 per cent YoY. The growth in the segment is aided by the 32 per cent YoY gold price hike, pent-up buying during the festive season and strong demand for wedding jewellery. The share of studded jewellery is expected to improve.   ....

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