Titan Company share rose over 5% today after the luxury goods firm said it saw good traction across all its businesses during the festive season. Titan share gained 5.16% intra day to Rs 3135, a fresh 52-week high, against previous close of Rs 2,983 on BSE.
The share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 11% in one year and risen 8.82% since the beginning of this year. Total 1.97 lakh shares changed hands amounting to turnover of Rs 26 crore. Market cap of the firm rose to Rs 1.14 lakh crore.
Later , the share erased major gains and closed 1% or Rs 12.75 higher at Rs 1292.
"The jewellery business witnessed a mid-teens growth (around 15%) for the 30 day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded jewellery sales. The watches and wearables business also did quite well in the festive season with recovery close to last year levels. Eyewear business has also witnessed good traction," Titan Company said.
Meanwhile, Sensex ended 580 points lower at 43,599 and Nifty fell 166 points to 12,771. During the session, Sensex and Nifty touched their lifetime highs of 44,222 and 12,959, respectively.
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