The company is planning to acquire 62% stake in Carat Lane for Rs. 357.24 crore.
Titan Ltd stock was higher by 3% to Rs.428.The company is planning to acquire 62% stake in Carat Lane for Rs. 357.24 crore.
Report says that the number of shares to be acquired is 1,91,42,545 representing 62 per cent of the company’s (Carat Lane) share capital.
The scrip opened at Rs. 425 and has touched a high and low of Rs. 431 and Rs. 421.7 respectively. So far 266403(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36821.51 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 416.25 on 14-Jul-2016 and a 52 week low of Rs. 303 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 416.25 and Rs. 398.1 respectively.
The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 25.32 % and 21.63 % respectively.
The stock is currently trading above its 50 DMA.
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