Shares of Titan on Thursday jumped over 9 per cent, with its market valuation crossing Rs 2 lakh crore mark, after the company said it has witnessed a strong recovery in demand in the July-September quarter.
Titan was the major gainer at the opening bell. The stock shot up 8.97 percent at Rs 2,339.35 on the BSE. Among Nifty stocks, Titan surged 8.5 percent to Rs 2,331.
The stock zoomed 9.39 per cent to its 52-week high of Rs 2,348.45 on BSE.
On NSE, it jumped 9.30 per cent to its 52-week high of Rs 2,347.40.
Following the jump in its share price, the company's market capitalisation climbed to Rs 2,08,026.05 crore on BSE.
From the Tata group firms, Tata Consultancy Services was the first company to attain this milestone of reaching Rs 2 lakh crore market valuation mark. Its current market valuation is at Rs 14,19,973.35 crore.
Titan registers strong recovery in Q2 FY22
Tata group firm Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels.
Most stores are now fully operational barring a few in select towns, having localised restrictions, with overall store operation days exceeding 90 per cent for the quarter, said Titan in its quarterly updates.
Apart from its thrust on the digital channel, Titan has accelerated its retail network expansion during the quarter.
"The company witnessed strong recovery in demand after the second wave across its consumer businesses with sales moving swiftly above or close to pre-pandemic levels in most of the divisions," said Titan.
In terms of revenue, in the jewellery segment, which contributes a larger portion of its turnover, it has reported 78 per cent growth in Q2 FY22 compared to Q2 FY21.
