Titan Company spurts on manufacturing capacity expansion plans

Titan Company is currently trading at Rs. 321.20, up by 0.95 points or 0.30 % from its previous closing of Rs. 320.25 on the BSE. The scrip opened at Rs. 321.00 and has touched a high and low of Rs. 324.30 and Rs. 320.45 respectively. So far 41694 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 347.65 on 22-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. 328.40 and Rs. 309.25 respectively. The current market cap of the company is Rs. 28533.45 crore. The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 24.10 % and 22.84 % respectively. Titan is planning to expand its manufacturing capacity and retail footprint across the country for its entire range of products, including watches, jewellery and prescription eyewear. In this regard, the company will invest over Rs 250 crore this year. Of total, Rs 150 crore will go for capacity expansion and the remaining will be spent on retail expansion. Last year, the company registered only four per cent top line growth with a drop in sales of watches and jewellery. Besides, the company will also invest nearly Rs 100 crore in expanding Montblanc boutiques. Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.