Shares of the luxury goods company hit a record high of Rs 2,361 on the BSE on Wednesday after recovering from significant demand in the September quarter. 2 lakh crore. Titan sales have increased as Govt restrictions, the upcoming festive season and the easing of the craze for digital gold. Titan is the second Tata group company to reach the 2 trillion milestone after TCS.
“The company has seen strong recovery in demand after the second wave in its consumer businesses, with sales moving quickly or to pre-infection levels in most segments,” Titan told investors in a quarterly business update.
On Wednesday, Titan announced that its sales in most segments of the September quarter had reached or surpassed pre-epidemic levels. The jewelry segment reported 78 percent YoY growth in sales (excluding bullion sales), taking the total store strength to 414 with an additional 13 stores per quarter.
Sales of watches and wearables grew 73 percent, while tanneries, perfumes and accessories, rose 121 percent year-over-year.
In terms of market capitalization, Titan still lags far behind TCS. In August, TCS became the second listed company and acquired Rs. Became the first information technology company (IT) with a market capitalization of $ 13 trillion.
At 12:33 pm, Titan shares were trading at Rs. Traded at 2,369, which was up 10.35 per cent, up one per cent on benchmark indices on the BSE.