Kalyan Jewellers India Ltd. said Monday it plans to raise as much as Rs 17.5 billion ($235 million) through a public listing as it banks on the long-term appeal of gold
The watchs segment saw 89% decline in revenue for Q1
Titan reported a 62.3 per cent year-on-year decline in revenue in Q1 at Rs 1,862 crore
All that happened in the markets today
For the April-June quarter, Titan Company posted a pre-tax loss of Rs 335 crore.
It had reported a profit-before-tax of Rs 523 crore in the corresponding quarter of previous fiscal
TITAN, after the breakout from a consolidation range, is gradually inching higher while holding strongly above the support zone of the long term moving average( 200 EMA) on the daily chart
The international portfolio currently generates around 10 per cent of the revenue in the watches division for the Bengaluru-headquartered company
TITAN has been trading within 940-1030 zone for almost one and a half months, taking a pause after a sharp rebound
His stake in Tata Group-owned watch and jewellery maker - Titan Company - and tractor-maker Escorts remained unchanged.
Muted demand for high-value studded products a major concern
All that happened in the markets today
The idea of working from home, once derided in India owing to the widely held belief that one "worked" only if one went to an "office", is now no longer an incentive but a necessity.
Expectations of margin pressure, mainly in jewellery business, which contributes over 80% of Titan's overall operating profit, is a key reason why the Street is worried.
All that happened in the markets today
Titan's net profit declined 1.5 per cent on a year-on-year (YoY) basis to Rs 343 crore as the Covid-19 pandemic adversely impacted operations during March
Minimises impact of pandemic through cost control measures; says witnessing good response from customers post opening up outlets
All that happened in the markets today
Last month, the company, in a business update, had informed that the lockdown and restrictions imposed on various activities due to the Covid-19 pandemic had posed challenges to all its businesses.
Titan expects cash outflow to be recovered when sale of jewellery restarts