Titan gets lifted by Q4 numbers

DALAL STREET SPIKES

Titan jumped up on impressive Q4 results. The stock in a subdued market was up 4.57 per cent to Rs 347.10 with volumes accounting for more than 6,23,000 shares on the BSE.

Analysts said, the stock was in the limelight following the company's impressive Q4 results. A portfolio manager with a domestic broking firm added, the counter has been attracting buying interest from institutional investors of late, as Titan is the only listed player in branded jewellery business.

The company recorded 55 per cent growth in net in Q4 ended March to Rs 14.68 crore. Sales have risen 16 per cent to Rs 312.38 crore. For FY05, the company registered 123 per cent growth in net profit to Rs 24.95 crore, on a 21 per cent hike in sales to Rs 1,079.95 crore.

The buzz in the market is that the company may enter into gold retailing, which is generating huge buying interest among institutional investors, sources said.