Latest news with #TitanCompany
Business Standard
15 hours ago
- Business
- Business Standard
Nifty trades below 25,100 level; European mrkt opens lower
The frontline indices traded sideways in the afternoon trade. The Nifty traded below the 25,100 level. Metal and private bank shares advanced, while PSU Bank, realty and media shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, advanced 35.39 points or 0.04% to 82,235.44. The Nifty 50 index lost 14.65 points or 0.06% to 25,076.80. In the broader market The S&P BSE Mid-Cap index fell 0.40% and the S&P BSE Small-Cap index rose 0.02%. The market breadth was negative. On the BSE, 1,816 shares rose and 2,051 shares fell. A total of 210 shares were unchanged. India's core industries, comprising eight sectors, reported 1.7% growth in June 2025, down from 5% in the same month of 2024, data released on Monday by the Ministry of Commerce and Industry showed. On a month-on-month basis, the expansion in June is relatively up, when these key sectors grew by 1.2%. Commerce ministry data showed the production of steel, cement and refinery products recorded positive growth in June 2025. The Index of Eight Core Industries (ICI) measures the combined and individual performance of production of eight core industries -- Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). The cumulative growth rate of ICI during April to June, 2025-26 is 1.3% (provisional) as compared to the corresponding period of last year. Gainers & Losers: ETERNAL (up 12.40%), HDFC Life Insurance Company (up 1.59%), Titan Company (up 1.43%), Hindalco Industries (up 0.96%) and Coal India (up 0.72%) were the major Nifty50 gainers. Eicher Motors (down 2.04%), Shriram Finance (down 1.91%), UltraTech Cement (down 1.80%), Hero MotoCorp (down 1.74%) and Tata Motors (down 1.59%) were the major Nifty50 Losers. Stocks in Spotlight: Titan Company advanced 1.42% after the company announced that it has entered into an agreement for acquiring 67% shareholding in Damas LLC (UAE), the current holding company for Damas jewellery business in GCC countries. DCM Shriram advanced 1.58% after the companys consolidated net profit increased by 13.04% to Rs 113.38 crore in Q1 FY26, compared to Rs 100.30 crore posted in Q1 FY25. Revenue from operations (excluding excise duty) grew 13.42% year-on-year (YoY) to Rs 3,248.63 crore for the quarter ended 30 June 2025. Magellanic Cloud added 2.42% after the companys consolidated net profit increased 4.75% to Rs 27.76 crore on 24.5% increase in revenue from operations to Rs 163.95 crore in Q1 June 2025 over Q1 June 2024. Latent View Analytics added 2.93% after the company reported a 30% jump in consolidated net profit to Rs 50.6 crore on a 31.9% increase in total revenue from operations to Rs 236 crore in Q1 FY26 as compared with Q1 FY25. Global Markets: European shares tanked on Tuesday on lingering tariff uncertainties, while investors continued to wade through a deluge of quarterly corporate earnings. Asian stocks traded mixed as investors turned cautious ahead of the looming August 1 deadline for potential US trade tariffs. Japanese stocks, in particular, saw sharp swings after Prime Minister Shigeru Ishibas ruling coalition lost its majority in the upper house. Wall Street offered little direction, with US indices closing mostly flat overnight despite hitting fresh intraday records. The spotlight this week remains firmly on corporate earnings, with Tesla and Alphabet set to report on Wednesday. By the close in New York, the Dow slipped 0.04%, the S&P 500 inched up 0.14%, and the Nasdaq rose 0.38%.
Arabian Business
16 hours ago
- Business
- Arabian Business
Indian jewellers Titan to buy 67% stake in Dubai's Damas
Titan Company, part of Indian conglomerate Tata Group, will take a major step in its international growth plan after announcing that it was buying a majority 67 per cent stake in Dubai-based luxury brand Damas from Qatar's Mannai Corporation. The deal, based on an enterprise value of AED 1,038 million (US$282.6 million), makes Titan one of the largest jewellery businesses in the Middle East. Titan is completing the deal through its wholly owned subsidiary, Titan Holdings International FZCO. The completion of the deal is subject to closing conditions and mandatory regulatory approvals. Titan entered the UAE market in October 2020 and already has a significant presence in the country through its seven Tanishq jewellery stores. The new deal gives it access to Damas' 146 stores across the six Gulf Cooperation Council (GCC) countries – UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. Titan acquires majority stake in Damas Titan expected the deal to be complete by January 31, 2026. The company also has the right to acquire the remaining 33 per cent stake in Damas after December 31, 2029. CK Venkataraman, Managing Director of Titan, commented: 'After successfully establishing Tanishq in the GCC countries and the USA, our ambitions for a global jewellery play is moving to the next stage. 'With the Damas acquisition, Titan Company is stepping out from its diaspora focus into other nationalities and ethnicities. Damas is a prestigious brand revered in the GCC markets for its product innovation, quality and customer experience. The brand's rich legacy and strong presence in the GCC region align perfectly with our vision to deliver exceptional value to customers through iconic, consumer-focused businesses. 'The acquisition not only creates a significant new global opportunity for Titan but also enhances the company's overall position in the jewellery market in the GCC countries and brings in multiple synergy benefits in talent, retail networks and supply chain.' While there is a huge Indian expat population in the Middle East which is a ready market for Titan, the company was also lured by 'the region exhibiting robust economic growth creating a demand for differentiated, high-quality offerings rooted in Arabian aesthetic and appealing to sophisticated clientele seeking unique, culturally resonant designs.' Founded in 1907, Damas Jewellery is headquartered in Dubai. It was previously listed on Nasdaq Dubai, before being taken over by Mannai and Egyptian investment bank EFG Hermes in 2012 for US$445 million. EFG Hermes sold its entire 19 per cent stake in the jeweller in 2014 to Mannai. Mannai said it will use the proceeds of the deal to strengthen its resources in support of further expansion of its core trade and IT services businesses in addition to reducing the Group Debt. Alekh Grewal, Group Chief Executive Officer of Mannai Corporation, added: 'Mannai Corporation is focused in the B2B segment based on trade and IT services. Damas became a subsidiary of Mannai in 2012, and the time has come for investment in the next phase of its expansion in the region. 'So, we are delighted that Titan is taking the opportunity to invest in the future of Damas. Both Titan and Damas share the same values in terms of passion for beautiful jewellery, innovative design and dedicated customer service, and we are confident that the combination will drive Damas in the next chapter of its growth trajectory in the GCC.'
Forbes
19 hours ago
- Business
- Forbes
Tata-Backed Titan To Buy Dubai Jeweler For $282 Million
Gold jewelry displayed inside a Titan Co. Tanishq jewelry store during the festival of Dhanteras in ... More Mumbai, India, on Tuesday, Nov. 2, 2021. Photographer: Dhiraj Singh/Bloomberg A unit of Titan Company—an Indian jewelry retailer backed by the Tata Group—has agreed to buy a 67% stake of Dubai-based Damas Jewellery for 1.038 billion dirhams ($282 million). Titan Holdings International will buy the Damas stake from Qatar-based Mannai fund the acquisition through a combination of debt and internal cash, according to a statement released on Monday. It plans to purchase the rest of the Dubai-based jeweller by the end of 2029. 'With the Damas acquisition, Titan Company is stepping out from its diaspora focus into other nationalities and ethnicities,' C.K. Venkataraman, managing director of Titan said in the statement. After scaling up its retail network across the countries in the Gulf Cooperation Council (GCC) and the U.S., Titan aims to expand globally, he added. Upon completion of the transaction, which is subject to regulatory approvals, Titan will gain access to 146 Damas stores across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates—markets which the company expects robust demand for jewelry. Titan entered the GCC market in 2020 with the opening of its first Tanishq store in Dubai. Founded in 1987, Titan is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corp., an Indian state-owned agency. In addition to jewelry, Titan also sells watches, eyewear, fragrances, women's bags, and Indian dresswear through stores in more than 400 cities across India. Tata Group is India's oldest conglomerate that the late Ratan Tata (who passed away in October) transformed into an industrial powerhouse with interests in airlines, automotive, financial services, media, telecommunications, technology and steel manufacturing. Under his two-decade leadership, he made global acquisitions including that of British steelmaker Corus Group in 2007 and luxury carmaker Jaguar Land Rover the following year.
UAE Moments
20 hours ago
- Business
- UAE Moments
India's Titan Acquires 67% of Damas Jewellery to Expand GCC Reach
Titan Company, part of India's Tata Group, is stepping up its jewellery game big time! On July 21, Titan announced it's buying a 67% stake in Damas Jewellery — a brand that's basically a household name in the Middle East. The deal is worth around AED 1.04 billion, and it's being handled by Titan's international arm, Titan Holdings International FZCO. They're buying the shares from Mannai Corporation of Qatar, and they expect everything to be wrapped up by January 2026 (pending the usual approvals, of course). What's in It for Titan? Titan already has its Tanishq brand out here in the GCC and the US, but it mostly caters to the Indian community. With Damas on board, Titan gets to level up and tap into a much broader customer base, including locals and other expats across the region. Managing Director C.K. Venkataraman said this deal takes Titan beyond just diaspora jewellery and into the GCC mainstream. He called Damas a "prestigious brand" known for quality and innovation — and clearly, they're excited about the talent, stores, and supply chain that come with it. Quick Deal Breakdown Stake acquired: 67% now Remaining 33%: Titan can buy after December 2029 Value: AED 1.038 billion Closing: By January 31, 2026 Payment: Cash + internal resources + debt Meet Damas: The GCC's Go-To Jeweller Founded way back in 1907, Damas has 146 stores across UAE, Saudi, Qatar, Oman, Kuwait, and Bahrain. Its style? A blend of Arabian heritage meets modern flair — basically, a hit with both locals and high-end expats. Revenue-wise, it's doing just fine: AED 1.46 billion in FY2024, growing year after year. Mannai's Take Mannai Corporation, the seller, is also happy with the deal. Their CEO, Alekh Grewal, said the proceeds will help them double down on their core businesses and clear up some debt. So, win-win!
Time of India
a day ago
- Business
- Time of India
Titan Company Share Price Live Updates: Titan Company trading summary
22 Jul 2025 | 09:05:30 AM IST Stay updated with the Titan Company Stock Liveblog, your one-stop destination for real-time information and analysis of a leading stock. Explore the latest updates on Titan Company stock, including: Last traded price 3428.0, Market capitalization: 304776.99, Volume: 7874, Price-to-earnings ratio 91.33, Earnings per share 37.59. Our liveblog combines fundamental and technical insights to offer a comprehensive overview of Titan Company's performance. Gain valuable market knowledge and make informed decisions with our expert analysis. Be the first to know about breaking news that can impact Titan Company's trajectory. Join us on this journey as we explore the exciting potential of Titan Company. The data points are updated as on 09:05:30 AM IST, 22 Jul 2025 Show more
