Titan Company surges as its arm Tanishq plans to open 30 new stores in FY15

Titan Company is currently trading at Rs 327.05, up by 7.15 points or 2.24% from its previous closing of Rs 319.90 on the BSE. The scrip opened at Rs 322.00 and has touched a high and low of Rs 328.40 and Rs 322.00 respectively. So far 84221 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 324.95 and Rs. 309.25 respectively. The current market cap of the company is Rs 28400.28 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 jewellery retail chain arm -- Tanishq -- is all set to spend heavily on expansion with 30 new stores in the offing during the year 2014-15. These stores will be company owned and on franchise model. Moreover, the company is expecting 15% growth in turnover for this fiscal. Currently, Tanishq has around 5% market share in the organised jewellery market of India. Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.