Titan jumps 7 percent and hits record high

Published On: Thursday, June 3, 2021 | By: Team KnowMyStock

Shares of Titan Company gained 7 percent after hitting a record high of Rs 1702 on the BSE in intra-day trade on Thursday amid the expectation of a strong recovery, due to pent-up demand and market share gains. Rakesh Jhunjhunwala’s favorite stock surpassed its previous high of Rs 1,620.95, touched on January 6 this year, and was the top Sensex gainer on Thursday. Titan Company’s market capitalization now stands close to Rs 1.5 lakh crore. Analysts believe that this stock may rally 7 percent more from current levels to Rs 1,800 in the next few days. Rising gold prices are also seen as a positive factor for Titan shares as consumers buy jewelry in anticipation that gold prices may continue to rise in the days to come. On April 29, Titan reported robust sales growth of 61 percent year-on-year (YoY) in the January-March quarter (Q4FY21) but the operating performance was below Street estimates on lower Ebitda margins due to a steep fall in gross margin.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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