Icra upgrades Titan's long term rating to 'AAA' with stable outlook

Apart from the growing Titan's store network, a shift towards organised sector will support growth

After showing high resilience to Covid-19-related disruptions in the jewellery segment, Titan’s growth is expected to be supported by store network expansion and huge opportunities in the unorganised sector, according to Icra.

The rating agency upgraded the long-term rating from “AA+” to “AAA” with stable outlook. It also affirmed short-term rating and rating for the fixed deposit programme. Titan stock was trading 1.73 per cent lower at Rs 723.35 per share on BSE.

The rating upgrade reflects expectations that Titan, a Tata group entity, will be able to leverage strong brands and market leadership position in the jewellery segment to