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Titan introduces its commodities trading arm; stock ends 4% lower

Titan holds 100% of the paid-up share capital in the commodity trading arm.

August 11, 2020 4:29 IST | India Infoline News Service
Titan Company
Titan Company was among top underperformers on exchanges during Tuesday's trading session. Titan stock finished at Rs1,066.50 per piece down 3.73% on Sensex. The performance comes after the company announced the incorporation of a wholly-owned subsidiary called Titan Commodity Trading.

Titan Commodity Trading has been formed with an authorized capital of Rs2cr and paid-up capital of Rs1 lakh. The turnover or size of the company is not applicable since its a newly incorporated firm.

Notably, the initial subscription of Rs1 lakh does not fall within the purview of Related Party transactions. Titan holds 100% of the paid-up share capital in the commodity trading arm.

Titan formed this commodity trading subsidiary to carry on the business of trading in various entity/ the Company) commodities and products by acquiring or registering as a member of various commodity exchange/s and to acquire and build technology to facilitate trading, dealing, buying and selling of all types of direct commodities or commodity futures and other precious materials.

The company further said, Titan Commodity Trading will carry on the business of trading in all types of direct and derived commodities, commodity futures, currencies and other securities on regular basis by acquiring or registering as a member of various commodity exchanges. 

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