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Watchmaker Titan Industries saw its stock gain significant ground on Thursday, courtesy some obvious buying moves which propelled it forward by 3.5 per cent.

The Rs 10-face valued stock, which opened the day at Rs 550, vaulted to a high of Rs 589 before it closed considerably lower at Rs 572.35. On the NSE, trading was brisk with 23 lakh shares being transacted. Titan, which had its 52-week peak at Rs 894.95, has serious non-promoter holdings. While FIIs held over 10 per cent at March-end, big-time investor Rakesh Jhunjhunwala is known to have been a critical stakeholder.

Reports that it is planning to enter the mass-market jewellery retail business soon seemed to have acted as trigger

Nilanjan Dey

More Stories on : Stocks | Ear to the ground | Gems & Jewellery | Watches & Accessories

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