Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Titan Company Limited    500114   INE280A01028

TITAN COMPANY LIMITED

(500114)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Tata Group pulls ad featuring Hindu-Muslim family after outcry

10/14/2020 | 09:10am EST
People are seen outside a Tanishq jewellery store in Mumbai

NEW DELHI/AHMEDABAD, India (Reuters) - A subsidiary of India's tea-to-telecoms Tata Group has withdrawn a jewellery advertisement featuring a Hindu-Muslim family celebrating a baby shower, following threats to one of its stores and wide criticism on social media.

Muslims make up about 15% of India's 1.3 billion people, most of whom are Hindu, and marriages between the two communities are still taboo in some regions.

Tanishq, a jewellery firm and unit of the Tata-controlled Titan Company Ltd., released the advertisement in its "Ekatvam", or oneness campaign, showing a Hindu bride and her Muslim in-laws holding a baby shower in the Hindu tradition.

On Wednesday, staff at the Tanishq jewellery store in the city of Gandhidham in western Gujarat state told Reuters they had posted an apology outside the store following hundreds of threatening calls.

"The Tanishq ad appearing in media today is shameful," read Monday's note, written in Gujarati, the state language. "Gandhidham Tanishq seeks forgiveness from the entire Hindu community of Kutch district."

Although some people had gone to the store seeking an apology for the advertisement, police official Mayur Patil told Reuters, there were no physical threats.

"They did get a lot of phone calls because of the ad, but there has been no attack or ransacking," added Patil, a police superintendent in the area. "Police are present at the store, and the store is functioning."

Calls to boycott the company over the advertisement were trending on social media on Tuesday, with some people accusing it of promoting "Love Jihad", a reference to the idea of a conspiracy by Muslims to forcibly convert Hindu women.

In a statement late on Tuesday, Tanishq said it withdrew the film due to "hurt sentiments, and the well-being of our employees, partners and store staff".

The withdrawal has also provoked criticism that the company is pandering to extremists.

"Its capitulation points to the pervasive atmosphere of fear and intimidation that some have unleashed in the country," said Shashi Tharoor, a prominent opposition lawmaker.

"Never thought I'd see the day when purveying communal hatred is the new normal."

Founded in 1868, Tata is one of India's largest and well-known companies, with dozens of businesses spanning chemicals to consultancy.

At the last general election in 2019, Tata was the largest donor to Prime Minister Narendra Modi's Bharatiya Janata Party, public filings show. It was also the biggest donor to the main opposition Congress party.

Modi's critics say India's long-standing tradition of celebrating diversity has come under attack since the Hindu nationalist BJP won power in 2014. The party denies this, saying it has empowered minority groups.

In 2019, an advertisement for Unilever's detergent Surf that promoted Hindu-Muslim unity also triggered a backlash.

(This story is refiled to correct byline, no changes to text)

(Reporting by Alasdair Pal in New Delhi and Sumit Khanna in Ahmedabad; Editing by Michael Perry and Clarence Fernandez)

By Alasdair Pal and Sumit Khanna


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
PAL GROUP HOLDINGS CO., LTD. -2.71% 1150 End-of-day quote.-39.71%
TITAN COMPANY LIMITED -1.37% 1346.25 End-of-day quote.13.36%
UNILEVER N.V. -2.01% 48.66 Delayed Quote.-5.02%
All news about TITAN COMPANY LIMITED
11/19INDIA'S ECONOMY TO RETURN TO NORMAL : Barclays
RE
10/14Tata Group pulls ad featuring Hindu-Muslim family after outcry
RE
10/07Sensex, Nifty rise for fifth session as Reliance gains; TCS buyback plan awai..
RE
10/07TITAN : Second-Quarter Jewelry Sales Have Nearly Returned to Last Year's Level
DJ
09/02TITAN : India's August gold imports doubles to hit 8-month peak - government sou..
RE
08/11Sensex, Nifty end higher as private sector banks rally
RE
08/10TITAN COMPANY LIMITED : 1st quarter results
CO
08/05TITAN COMPANY LIMITED : quaterly earnings release
08/03TITAN COMPANY LIMITED : Ex-dividend day for final dividend
FA
07/30TITAN : India's 2020 gold demand may hit 26-year low as prices rally - WGC
RE
More news
Financials
Sales 2021 177 B 2 392 M 2 392 M
Net income 2021 8 764 M 118 M 118 M
Net cash 2021 10 671 M 144 M 144 M
P/E ratio 2021 137x
Yield 2021 0,31%
Capitalization 1 195 B 16 095 M 16 109 M
EV / Sales 2021 6,67x
EV / Sales 2022 4,96x
Nbr of Employees 7 437
Free-Float 41,2%
Chart TITAN COMPANY LIMITED
Duration : Period :
Titan Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TITAN COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 1 346,25 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
C. K. Venkataraman Managing Director
Thiru N. Muruganandam Chairman
Subbu Subramaniam Chief Financial Officer & Head-IT
Bhaskar Puttige Bhat Non-Executive Non- Independent Director
Noel Naval Tata Non-Independent Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
TITAN COMPANY LIMITED13.36%16 348
LVMH MOËT HENNESSY - LOUIS VUITTON SE18.92%294 034
HERMÈS INTERNATIONAL28.67%106 337
ESSILORLUXOTTICA-15.06%59 683
COMPAGNIE FINANCIÈRE RICHEMONT SA-0.32%47 021
LULULEMON ATHLETICA INC.49.24%45 055