New Delhi: Titan shares on Thursday jumped more than 9 percent, with its market assessment which crossed Rs 2 Lakh Crore Mark, after the company said he had witnessed a strong recovery in demand in the July-September quarter.
Stocks minimize 9.39 percent to 52 weeks by Rs 2,348.45 in BSE.
In NSE, it jumped 9.30 percent to 52 weeks by Rs 2,347.40.
After the leap in its share price, the company’s market capitalization rose to Rs 2,08,026.05 Crore at BSE.
From Tata Group Company, Tata Consultation Services is the first company to reach this historical milestone reaching RS 2 Lakh Crore Markes Valuation.
The current market assessment is Rs 14,19,973.35 Crore.
Titan on Wednesday said he had witnessed a strong recovery in demand in the July-September quarter, and sales at most of his division had reached above or close to the pre-pandemic level.
Most stores are now fully operational restrictions in certain cities, after local restrictions, with the entire store operation in the store exceeding 90 percent for the quarter, Titan said in its quarterly update.
Regardless of its encouragement on the digital channel, Titan has accelerated the expansion of its retail network during the quarter.
“The company witnessed a strong recovery in demand after the second wave crossed its consumer business with sales moving quickly above or close to the pre-pandemic level in most divisions,” Titan said.
In terms of income, in the jewelry segment, which contributes the greater part of the turnover, has reported a 78 percent growth in Q2 FY22 compared to Q2 FY21.