Titan Shares Hit New All-Time High
Published On: Thursday, March 17, 2022 | By: Team KnowMyStock
Rakesh Jhunjhunwala’s portfolio stock Titan Company hit a record high on Thursday and rose over 5% and is among the top Nifty gainers in trade on March 17, 2022. Titan’s stock rose 5.2% at Rs 2721.65 per share on NSE and was up 5% at Rs 2720 apiece on the BSE in intraday trading. According to stock market experts, the stock is expected to reap the margin benefit of the recent gold price rally in the international market. They said that chances are bright for the jewelry stock to give better Q4 numbers in the upcoming result season. They said that Titan share prices are in an uptrend and may climb to a new lifetime high in the next month. Last week on Friday, the company said its subsidiary has inked an agreement to acquire 17.5% voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore). TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for the subscription of shares
with voting preferred stock in the capital stock of Great Heights, the jewelry and watchmaker said in a regulatory filing.
The stock is in a buoyant mood and in its recent quarterly results, the firm's total income from operations increased both QoQ and YoY to Rs. 9515 crore. Also, its PAT figure more than doubled YoY to Rs. 987 crore.
Tags: Titan All time high jewellery watch
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