Titan Company shines as its brand Fastrack expects Rs 1,000 crore revenues for current fiscal

Titan Company is currently trading at Rs 333.20, up by 23.05 points or 7.43% from its previous closing of Rs. 310.15 on the BSE. The scrip opened at Rs 341.15 and has touched a high and low of Rs 347.65 and Rs 331.20 respectively. So far 1125494 shares were traded on the counter. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 343.90 on 16-May-2014 and a 52 week low of Rs 200.00 on 13-Jun-2013. Last one week high and low of the scrip stood at Rs 343.90 and Rs 297.50 respectively. The current market cap of the company is Rs 29638.74 crore. The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 24.10% and 22.84% respectively. Titan Company’s fashion brand- Fastrack, expects its turnover for the current fiscal to be around Rs 1,000 crore as against Rs 800 crore in the previous fiscal. The brand plans to add 70 newly-designed stores to its existing 157 stores. The company generally spends around five percent of the turnover on advertisements and brand building. The brand is also looking at entering into new categories and would add a new category in the next two years. The leading fashion brand has recently introduced a new range of accessories for the summer with trendy sunglasses and backpacks. Fastrack sunglasses are priced from Rs 1,195 to Rs 2,295, the collection comprises of Aviators, Wayfarers and Sporty wraps while the backpacks are priced from Rs 1,195 to Rs 4,395. Titan is India’s largest manufacturer of quartz watches and has a 60% market share in the Indian market. It is world’s sixth largest manufacturer of branded watches. It has a manufacturing and assembly unit at Hosur in Tamil Nadu.