The shares of the company ’Titan’ have actually climbed up by and around 4 percent as of Friday. This happened exactly after the company stated that they had performed well all across the business verticals especially during the second quarter.
The company further states that they have actually gained a foothold in the market shares all across the verticals based on strategies that are actually pretty well laid out for all of its businesses. The watch business of the company has been doing well ever since the first quarter. It has been carrying out an excellent business ever since. However, there has also been a growth in the jewelry department/ industry. This particular industry of the company has picked up pretty well after having a slow but relative growth in the month of June. The stocks have seemed to rise by and around 4.13 percent following this particular development. It has managed to hit a low of and around 808.20 rupees on the BSE.
The company has managed to gain in the market share for the jewelry business on the back of having new collection launchings and extended diamond studded activation. This is basically even as there is an increase in the gold prices along with having fewer numbers of the wedding dates along with the tightening of credit with regards to the industry.
One of the Ace investors Mr. Rajesh Jhunjhunwala along with wife Rekha Jhunjhunwala is known to own and hold around 7.09 percent stake. The total amount is valued to a whopping total of 5000 crores. The stake is held by them jointly in the jewelry stock as of June 30th.
The company states that there has been a sense of optimism recently in the outlook of the economy. The sectors where this optimism has been seen and noticed are in employment and household income along with the general sector as well.