Bhat joined the Tata Watch Project in 1983, which later went on to become Titan Company that we see today
ICRA said the company had leadership position in the organised jewellery, watches, and eyewear segments
The stock was trading at its lowest level since February 1, 2019, when it hit Rs 985 in intra-day trade
Despite near-term weakness, JP Morgan believes the structural market share gain-led growth strategy for Titan remains intact and would ensure healthy medium-term growth prospects.
In its quarterly update, the consumer goods company said high gold prices in June impacted its jewellery business.
Thus far in the calendar year, the stock has outperformed the market by surging 43 per cent, as compared to a 10 per cent rise in the benchmark S&P BSE Sensex till Wednesday.
In past five months, the stock of Titan Company has outpaced the market by surging 37 per cent, as compared to 9 per cent rise in the S&P BSE Sensex
The stock rallied 5 per cent to Rs 1,044, surpassing its previous high of Rs 1,006 recorded on April 18, 2018, on Monday in an otherwise weak market.
The stock was up 4 per cent to Rs 964 on BSE in the early morning trade after the company said it saw good growth momentum across all its businesses in the seasonally strong third quarter.
The stock was up by 4% at Rs 883, recovering 5% from its early morning low of Rs 842 on the BSE.
Titan Company was trading 4.7% higher at Rs 812 against 0.96% decline in the S&P BSE Sensex at 10:20 am.
High base of last year, muted bullion and jewellery demand main reasons; analysts remain bullish on prospects
The stock was down 4% to Rs 853 on the BSE in early morning trade after the Tata Group Company said that the sales growth in Q1FY19 has been muted due to the weakness in the consumer sentiment.
Eyewear business has been a little slow to take off but we believe that it is the place to be, says Bhaskar Bhat, MD, Titan Company Ltd
The stock was up 5% to Rs 881, bouncing back 7% from intra-day low of Rs 825 on the BSE.
The stock hit a new high of Rs 970, up 3.3%, has surpassed its previous high of Rs 963 recorded on March 28, 2018 on the BSE in intra-day trade.
The stock hit a new high of Rs 950, up 6%, surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade on the BSE.
TBZ, PC Jeweller, Gitanjali Gems, Renaissance Jewellery and Thangamayil Jewellery are up in the range of 4% to 7% in otherwise subdued market.
High growth in wedding jewellery segment is the key revenue driver
The stock up 10% to Rs 616 after posted profit of Rs 238 crore in June quarter