Tata Group Announces JV: Key Details and Stock Analysis

Titan, a Tata Group company known for its jewelry and watches, has partnered with Bangladeshi firm Rhythm Jewellery to establish a new joint venture in Bangladesh. This venture will leverage Titan’s jewelry expertise and Rhythm’s local market knowledge to manufacture, market, and sell jewelry throughout Bangladesh. The joint venture will become a subsidiary of Titan, solidifying Titan’s presence in the growing South Asian market.

Titan Company Share Price Today

Titan shares started Friday’s trading on the BSE down at Rs 3,388. The stock was trading at an intraday low of Rs 3,368.60 and a day high of Rs 3,419.95 on the BSE. The IT giant’s shares ended trading on the BSE at Rs 3,406.10, a decrease of 0.76 percent from their previous closing of Rs 3,380.40.

Joint Venture Details

Management: A board of four directors will oversee the joint venture business. Whereas Rhythm will have one director, Titan will have three. Titan will nominate The Chairman among others. Titan’s nominees will be chosen to serve as the joint venture company’s managing director and CEO.

Shareholding Structure: Rhythm will own 24 percent of the joint venture, while Titan will own 76 percent. At a face value of BDT (Bangladeshi Takas) 100 per share, Titan will subscribe for 76,000 shares, while Rhythm will subscribe for 24,000 shares.

Titan Company Limited Share Target 2024

Shares of Titan Company have received an ADD rating from Kotak Institutional Equities. In its report dated June 27, 2024, the business mentioned the CMP of Rs 3,373 and determined the fair value of the company to be Rs 3,600.

Titan Share Price History

Titan, a component of the S&P BSE Sensex, has a market capitalization of Rs 3,02,388.84 crore based on the current price of the stock. The stock of the Tata Group company fell more than 0.09 percent in the previous month and 7.32 percent in 2024. The stock has returned Rs 12.60 percent, 73.07 percent, and a staggering 155.17 percent over the last one, two, and five years. In the past ten years, the stock of the jewellery producer has produced returns of 865.45 percent.

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Disclaimer

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Stock Performance: Past performance is not necessarily indicative of future results. The stock price of Titan Company Limited (Titan) can fluctuate and investors may lose some or all of their investment.

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