CaratLane to turn wholly-owned arm of Titan with purchase of 0.4% stake
As of date, CaratLane is a subsidiary of Titan wherein it holds a 99.64% stake. The completion of the aforesaid share purchase would result in CaratLane becoming a wholly-owned subsidiary of the company. Key Points
Economic TimesET Awards: Titan's CK Venkataraman: The man who found the rhythm of growth
Soon after Venkataraman succeeded Bhaskar Bhat as Titan boss, Covid-19 struck. All businesses had to be rewired for employees, distributors, franchises and retail partners. Venkataraman's corner-office role came with a formidable set of challenges. The year 2019-20 was a challenging one, Titan said in its annual report for that year. Slowdown in the growth of Indian economy, significant rise in gold prices and the onset of the Covid-19 pandemic and consequent lockdown in the month of March 2020 impacted the overall growth of the company. Key Points
Economic TimesWhat's behind the glitter of Titan, and where it is headed
From getting into gold business and establishing a premium jewellery brand in Tanishq, Titan has done several things right that also caught the attention of late ace stock market investor Rakesh Jhunjhunwala. Titan also cashed in on the premiumisation trend of India, which is now the fastest growing major economy and consumers are spending more and more for luxury items. Key Points
Economic TimesTitan tops Rs 3 lakh crore market-cap
In achieving this milestone, the one-time horologist became only the second company from the Tata Group to cross a valuation threshold earlier breached by Tata Consultancy Services (TCS). Titan is also the second company in the retail sector, after DMart's parent Avenue Supermart, to surpass this benchmark. Key Points
Economic TimesIndia's Tata-owned Titan beats Q2 profit view on strong jewellery demand
Indian jeweller and watch maker Titan Company (TITN.NS) on Friday reported a bigger-than-expected second-quarter profit, aided by the strong sales of its Tanishq gold jewellery. Key Points
Reuters
Coast Guard recovers presumed human remains from Titan submersible wreck
The ill-fated OceanGate underwater vessel went missing on June 18 during a mission to survey the final resting place of the Titanic. Onboard were five individuals, sparking an international search and rescue operation. Authorities later confirmed that the submersible had suffered a catastrophic implosion during its descent, resulting in the loss of all crew members. Key Points
Economic TimesTitan to pay $560 million to increase stake in CaratLane by 27.2%
On completion of the purchase, Titan will hold 98.28% of CaratLane on a fully diluted basis, up from 71.09%. Key Points
ThePrintIndia's Titan Co to pay $560 million to raise stake in CaratLane
India's Tata Group-owned Titan Co (TITN.NS) will raise its stake in its subsidiary CaratLane Trading by 27.2% for 46.21 billion rupees ($555.8 million), the parent company said in an exchange filing on Saturday. Key Points
ReutersShould investors eye Titan or fastrack profit booking post Q1 earnings?
Tata Group's fashion and lifestyle products retailer Titan reported its standalone profit after tax at Rs 777 crore for the quarter ended June 2023. Its quarterly revenue jumped 19% YoY to Rs 10,306 crore. Both figures were below the Street estimate. During the quarter, the company's margin fell 239 bps to 9.9%. Key Points
Economic TimesUS authorities conduct DNA tests on human remains recovered from Titan sub wreck
U.S. investigators face challenges in identifying human remains found after implosion during Titanic wreck dive. | World News Key Points
Hindustan Times
Titan tries to strike a delicate balance between tradition and modernity in advertising
The company is roping in experts from the field of memory studies to help better advertise and brand Taneira, the textile arm of the Titan group. In partnership with Titan, IIT-Madras has rolled out a first-of-its-kind, six-week long course titled 'Memory Studies in Industry Contexts' exclusively to senior and mid-level managers of the company. Key Points
Economic TimesAre Titan's last communication images going viral real? Netizens speculate veracity as details emerge
Screenshots of alleged final communication from Titan sub have captivated the internet. While the authenticity remains disputed, experts find content plausible. | World News Key Points
Hindustan Times‘shaking crying throwing up’ Fans react to new Attack on Titan trailer!
The official trailer for Attack on Titan Final Season Part 3 (Part 2) has been released. Fans express their mixed feelings on Twitter. Key Points
Hindustan TimesHow passengers of the doomed Titanic sub spent their last hours
The US Coast Guard is investigating the cause of the undersea implosion the Titan submersible that killed all five people aboard while diving to the century-old wreck of the Titanic. The findings will be shared with the International Maritime Organization and other groups to help improve the safety framework for submersible operations worldwide. Key Points
Economic TimesHarvard prof. explains how investigators might ascertain cause of ‘Titan’ mishap
Dr. Peter Girguis, a Harvard University professor and oceanographer highlighted how the investigators might ascertain the causes of the tragic incident. | World News Key Points
Hindustan Times
US couple drops lawsuit against OceanGate CEO after Titan submersible tragedy
A couple in the United States initiated a lawsuit, claiming that OceanGate CEO Stockton Rush had repeatedly cancelled the underwater expedition that they had booked on Titan submersible in 2018. However, they dropped the lawsuit after the company's CEO was killed when the Titan submersible imploded underwater last week. Key Points
India TodayUS, Canada launch probe into Titan sub implosion
A formal inquiry has not yet been launched because maritime agencies are still busy searching the area where the vessel was destroyed, killing all five people aboard, the US Coast Guard said. Debris was located about 12,500 feet (3,810 meters) underwater, several hundred feet away from the Titanic wreckage it was on its way to explore. Key Points
Economic TimesTitan submersible tragedy: Unanswered questions, next steps in the investigation; details here
The missing Titan submersible has been found near the Titanic shipwreck, with debris indicating a catastrophic implosion that killed all five people on board. Investigators are now looking into the cause and whether it could have been prevented. Key Points
mintTitanic sub destroyed in 'catastrophic implosion,' all five aboard dead
A robotic diving vehicle deployed from a Canadian ship discovered a debris field from the submersible Titan on Thursday morning on the seabed some 1,600 feet (488 meters) from the bow of the Titanic, 2 1/2 miles (4 km) beneath the surface, in a remote corner of the North Atlantic, U.S. Coast Guard Rear Admiral John Mauger told reporters. Key Points
Economic TimesHow does the Titan submersible look from inside? Here are details as oxygen supply dwindles
A submersible carrying passengers to the Titanic wreckage lost communication, risking depletion of oxygen supply. The Titan has cramped interior and previously it carried 46 people to the Titanic site. Key Points
Economic Times
The Titan: Specifications, Capabilities, Cost, Safety; all about the submersible that vanished during a di
The Titan, a submersible on a tourist expedition to the Titanic site, has gone missing. Reports suggest that underwater noises have been detected during the search. The vessel, accommodating notable passengers including Hamish Harding and Shahzada Dawood, had a price tag of $250,000 per person. Authorities have not confirmed the identity of any passengers. Key Points
Economic TimesTitan Share Price Live blog for 07 Jun 2023
Titan stock price went up today, 07 Jun 2023, by 0.8 %. The stock closed at 2854.8 per share. The stock is currently trading at 2877.5 per share. Investors should monitor Titan stock price closely in the coming days and weeks to see how it reacts to the news. Key Points
MintTitan plan to buy out CaratLane hits valuation hurdle
CaratLane had been in a strategic vendor relationship with Tanishq, Titans jewellery brand, since 2010. Between 2016 and 2019, Titan bought into the company in tranches, spending a cumulative Rs 440-450 crore, primarily via a secondary purchase of shares from Tiger Global, an early stage backer. Titan also made a primary infusion of Rs 99 crore in the company. Key Points
Economic TimesAnalysts raise price target on Titan stock
Citigroup's price target is the most optimistic among brokerage firms. It sees a 23% upside potential from the current levels. CLSA also raised its price target after seeing comprehensive growth across Titan's business segments. Key Points
Economic TimesTitan on course for FY24 as well as FY27 plans: MD
Titan MD CK Venkatraman stated that FY23 was exceptional in terms of sales growth, profit margin expansion, market share gain, and customer experience standards, and they are on course for their FY24 and FY27 targets. Despite the volatility in gold prices and demand slowdown earlier this year, Venkatraman believes that one fortnight's impact shouldn't worry investors. Key Points
Economic Times
How Rekha, Rakesh Jhunjhunwala stake in favourite stock Titan fell sharply since 2016, rose again last FY
From March 2016 to March 2023, Rakesh and Rekha Jhunjhunwala's stake in Titan reached lows of 5.05% in March 2022. Key Points
FinancialexpressSaurabh Mukherjea on why Hermes, Titan make for great plays on luxury
Titan has generated 1200 times shareholder wealth in the last 20 years, making it difficult to find any other company that represents Indian affluence as well. Global Compounder Portfolio is a list of companies that are interesting to Mukherjea, including the medical equipment provider Intuitive and luxury fashion company Hermes. Intuitive's market share dominates due to its Da Vinci machine being used in 80-90% of operations globally; Hermes builds monopoly on Birkin bags by targeting dollar millionaires, who are increasing annually by 6-7%. Key Points
Economic TimesAn eye for eyewear: Titan up on ADIA's Lenskart bet
JPMorgan on Wednesday maintained its overweight rating with a target price of ₹3,000, implying an upside of 23% over Thursday's closing. The broking firm said Titan's valuations are comparable to other large discretionary names, and current levels are a good entry point as it has better earnings growth. Key Points
Economic TimesAttack on Titan Final Season Part 3: Here's where fans can watch first episode
The first episode of Attack on Titan Final Season Part 3, which was highly anticipated by anime enthusiasts worldwide, premiered on March 3, 2023. Here's where fans stationed outside Japan can now access the streaming platform to watch the first episode. Check it out. Key Points
Hindustan TimesAttack on Titan Finale Part 2: The epic conclusion - What we know so far
Attack on Titan Finale Part 2 is set to air this fall. As viewers prepare for the ultimate battle against the Titans, let's take a closer look at what we know so far about this epic conclusion. Key Points
Hindustan Times
Titan Company plans to hire over 3,000 employees in next 5 years as it aims Rs 1,00,000 crore business
Titan plans to add 3,000 employees across divisions including engineering, design, luxury, digital, data analytics, marketing and sales, as it eyes to become a Rs 1,00,000 crore business in the next 5 years. We believe that alongside growing our own people it also helps to bring in experts from various fields, young and experienced. This will accelerate our growth and innovation, strengthening our position in the industry, Titan Company Head HR- Corporate and Retail, Priya Mathilakath Pillai said in a statement. Key Points
Economic TimesTitan submersible photos haunt internet, show vessel ‘imploded at bottom of sea’
The images of Titan submersible have begun to surface on the internet from reputed media channels. It shows a horror visual to what must have happened when the Titan sub collapsed, killing all five on board. Key Points
Economic TimesMissing Titanic submersible: Oxygen nearing zero in the vessel as search for 5 passengers continues
OceanGate-operated submersible named Titan, set off on Sunday to see the wreck of Titanic lying in the Atlantic. With five passengers and a crew on board, the vessel was reported missing about an hour and 45 minutes after its dive into the ocean. Now, fears have mounted that the missing persons in submersible are left with little or no breathable air. Key Points
Economic Times