Titan Industries galloped 7.02% to Rs 909 at 10:07 IST on BSE, as net profit surged 88.2% to Rs 87.14 crore in Q2 September 2008 over Q2 September 2007.
The stock hit a high of Rs 925 and a low of Rs 860.05 so far during the day. The stock has a 52-week high of Rs 1795 on 30 October 2007 and a 52-week low of Rs 710 on 16 October 2008.
The stock gained 5.69% to Rs 849.35 on 20 October 2008, from a recent low of Rs 803.65 on 15 October 2008, ahead of the results.
The company’s current equity is Rs 44.39 crore. Face value per share is Rs 10.
The current price of Rs 909 discounts the company’s Q2 September 2008 annualized EPS of Rs 78.52, by a PE multiple of 11.58.
Titan Industries’ total income rose 53.10% to Rs 1089.77 crore in Q2 September 2008 over Q2 September 2007.
The company is engaged in manufacturing, developing and marketing mechanical, digital and quartz watches, jewellery watches and jewellery pieces. The manufacturing plants are located in Hosur in Tamil Nadu and Dehradun in Uttaranchal and also have operations in Holland, Dubai, the United Kingdom and Singapore.
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