Titan to consolidate its portfolio by migrating the Gold Plus network
Titan Company Ltd has informed BSE that the Company had launched its second jewellery brand Gold Plus in 2005 for small-town South India, to better cater to the needs of the more traditional requirements of those customers. Since then, Gold Plus had grown to about 30 stores in size.
The company in its announcement has said that it has decided to consolidate its portfolio by migrating the Gold Plus network to become part of the Tanishq network.
With this, Titan Company is confident that India’s most desirable and profitable jewellery brand, Tanishq, will get even more desirable for customers and attractive to investors.
Titan Company Ltd is currently trading at Rs 361.4, down by Rs 0.75 or 0.21% from its previous closing of Rs 362.15 on the BSE.
The scrip opened at Rs 364 and has touched a high and low of Rs 364.35 and Rs 361.25 respectively. So far 248128(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 32151.18 crore.
The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 445 on 07-Sep-2016 and a 52 week low of Rs 296.3 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 366 and Rs 354 respectively.
The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 26.53 % and 20.41 % respectively.