Titan shares rally nearly 11 pc; m-cap soars past Rs 2 lakh cr-mark
The stock zoomed 10.69 per cent to settle at Rs 2,376.20 on the BSE. During the day, it jumped 11 per cent to its 52-week high of Rs 2,383.35.
Shares of Titan on Thursday jumped nearly 11 per cent, with its market valuation crossing Rs 2 lakh crore mark, after the company said it has witnessed a strong recovery in demand in the July-September quarter.
The stock zoomed 10.69 per cent to settle at Rs 2,376.20 on the BSE. During the day, it jumped 11 per cent to its 52-week high of Rs 2,383.35.
See Zee Business Live TV Streaming Below:
On the NSE, it jumped 10.60 per cent to settle at Rs 2,375.35. During the day, it rallied 11.01 per cent to its 52-week high of Rs 2,384.25.
Following the jump in its share price, the company's market capitalisation climbed to Rs 2,10,955.75 crore on the BSE.
From the Tata group firms, Tata Consultancy Services was the first company to attain this milestone of reaching Rs 2 lakh crore market valuation mark. Its current market valuation is at Rs 14,39,892.74 crore.
Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels.
Most stores are now fully operational barring a few in select towns, having localised restrictions, with overall store operation days exceeding 90 per cent for the quarter, said Titan in its quarterly updates.
Apart from its thrust on the digital channel, Titan has accelerated its retail network expansion during the quarter.
"The company witnessed strong recovery in demand after the second wave across its consumer businesses with sales moving swiftly above or close to pre-pandemic levels in most of the divisions," said Titan.
In terms of revenue, in the jewellery segment, which contributes a larger portion of its turnover, it has reported 78 per cent growth in Q2 FY22 compared to Q2 FY21.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
From Axis to IDFC First - These bank stocks can give bumper returns in 3-4 weeks – Check target price and stop loss
Rules Changing from June 1: Aadhaar card update, driving license, LPG price and others - Check Full List
Central Railways' 63-hour mega block to hit Mumbai local train services, check dates and other details
SBI Senior Citizen FD Interest Rates 2024: What Rs 2 lakh, Rs 4 lakh, and 6 lakh, and Rs 8 lakh investments will give you in 1-, 3-, and 5-year FDs
Gold and Silver rate today (May 30, 2024): Precious metal futures trade in red; yellow metal near Rs 72,000, white metal falls by nearly Rs 1,500
Top 5 Defence PSU Stocks: Investors buying 1 unit of top PSU defence stock a month made Rs 40,299.40 on Rs 23,003.25 investment in 1 year
07:01 PM IST