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    500114   INE280A01028

TITAN COMPANY LIMITED

(500114)
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End-of-day quote Bombay Stock Exchange  -  2022-08-15
2493.65 INR   +0.88%
08/14Rakesh Jhunjhunwala, 'India's Warren Buffett', dies at 62
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08/11TITAN : Quarterly Reporting Document
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08/05TRANSCRIPT : Titan Company Limited, Q1 2023 Earnings Call, Aug 05, 2022
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Indian shares hit near 4-week high as metals surge, inflation fears ebb

07/07/2022 | 06:52am EDT

BENGALURU, July 7 (Reuters) - Indian shares touched a near four-week high on Thursday as metal and financial companies gained, with fears of imported inflation easing amid a decline in crude prices this week.

The NSE Nifty 50 index rose 0.89% to 16,132, while the S&P BSE Sensex gained 0.8% to 54,178.46.

Brent crude futures have fallen more than 9% this week as fears of a potential global recession have stoked concerns about oil demand.

India, the world's third-largest importer, stands to benefit from the drop in prices which could bring down inflation sharply, analysts said.

"Valuations have become slightly more comfortable in India. Macro data points coming in are strong and crude prices have fallen considerably, which is a huge positive for the country," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

The Nifty metals index, which fell over 12.6% in June, rose 3.8% on Thursday. The Nifty bank index gained 1.7%, with many banks posting strong quarterly updates.

Analysts also said selling from foreign investors reduced this week compared to the week before, besides seeing some inflows, helping Indian markets stabilize.

Foreign investors bought Indian shares worth $270 million on Wednesday. They have sold a net $273 million in Indian equities so far this week, compared with $517 million in net disposal last week, according to Refinitiv Eikon data.

Among individual stocks, jeweller Titan surged as much as 7.9% after its first-quarter sales spiked 205%.

Kalyan Jewellers India rose as much as 6.2% on strong sales data for the June quarter.

Some slowdown in sales and demand was expected from the June quarter, but quarterly reports from the consumption-driven space are pointing to consistent strong demand, Khemka said. (Reporting by Nallur Sethuraman and Gaurav Dogra in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
KALYAN JEWELLERS INDIA LIMITED 0.43% 70.2 End-of-day quote.2.56%
LONDON BRENT OIL -1.72% 92 Delayed Quote.25.24%
NIFTY 50 0.72% 17825.25 Delayed Quote.1.98%
NIFTY BANK 0.42% 39239.65 Delayed Quote.10.04%
S&P GSCI BRENT CRUDE INDEX -2.69% 780.7669 Real-time Quote.21.21%
SENSEX BSE30 0.64% 59842.21 Real-time Quote.2.08%
TITAN COMPANY LIMITED 0.88% 2493.65 End-of-day quote.-1.22%
WTI -2.04% 86.359 Delayed Quote.21.55%
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More news
Financials
Sales 2023 343 B 4 311 M 4 311 M
Net income 2023 30 004 M 377 M 377 M
Net cash 2023 15 629 M 197 M 197 M
P/E ratio 2023 72,8x
Yield 2023 0,39%
Capitalization 2 195 B 27 604 M 27 604 M
EV / Sales 2023 6,36x
EV / Sales 2024 5,38x
Nbr of Employees 7 263
Free-Float 41,6%
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Mean consensus -
Number of Analysts 0
Last Close Price 2 471,95
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Spread / Average Target -
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Managers and Directors
Venkataraman Coimbatore Chief Executive Officer-Jewelry
Ashok Kumar Sonthalia Chief Financial Officer
Saranyan Krishnan Thiru Chairman
Dinesh Shetty Secretary, Compliance Officer & General Counsel
Ashwani Kumar Puri Independent Non-Executive Director
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