Trending stocks: Titan Company shares down over 2%

NEW DELHI: Shares of Titan Company traded 2.07 per cent down in Wednesday's trade at 09:19AM (IST). Around 5,458 shares changed hands on the counter.

The stock opened at Rs 890.0 and touched an intraday high and low of Rs 890.0 and Rs 873.95, respectively, in the session so far. The stock of Titan Company Ltd. quoted a 52-week high of Rs 1389.85 and a 52-week low of Rs 720.0.

Total market cap of the Titan Company Ltd. stood at Rs 79292.62 crore at the time of writing this report.


In a regulatory update, Titan said that its operating cash flow was negative during the last months due to virtually zero sales during the first 6 weeks of lockdown, increase in mark-to-market cash outflow on gold hedge due to rising gold prices and committed costs being incurred.


Key Financials
The company reported consolidated net sales of Rs 6454.58 crore for the quarter ended 31-Dec-2019, up 40.3 per cent from previous quarter's Rs 4600.71 crore and up 10.53 per cent from the year-ago quarter's Rs 5839.82 crore.

The net profit for latest quarter stood at Rs 474.62 crore, up 14.87 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2020, DIIs held 5.66 per cent stake in the company, while foreign institutional investors held 17.74 per cent and the promoters 52.91 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 52.96 and a price-to-book ratio of 13.03. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Titan Company Ltd. belongs to the Jewellery Retail industry.