As Titan prepares to raise money through NCDs, stock trades in green

11 Oct 2023 , 02:43 PM

After the jewellery and watch manufacturer indicated it might think about borrowing money by selling non-convertible debentures (NCDs), Titan Company shares increased on October 11.

The Titan stock was up 0.47% to Rs 3,284 at 12:40 p.m. on the NSE.

In a BSE filing on October 10, Titan Company stated that its Board of Directors would meet on October 17 to discuss the possibility of issuing NCDs through a private placement within the permitted borrowing limits.

Titan Company previously stated that a strong demand during Akshaya Tritiya and an alluring gold exchange programme were the main drivers of its India business’ 20% growth in the April-June quarter. In comparison to Q1FY23, buyer growth was 14%, while average ticket sizes increased by 6%.

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