November 12, 2018 / 5:03 AM / 4 months ago

BUZZ-India's Titan Company rises most in nearly 5 weeks

** Shares of jeweller Titan Company Ltd rise as much as 4.2 pct to 883.4 rupees, highest since Nov 2

** Stock among top pct gainers on the NSE index, marks sharpest intraday pct gain since Oct 10

** Qtrly consol sale of products jumped nearly 28 pct, but net profit growth at 7.8 pct was muted due to higher expenses

** Deutsche Bank (DB) says Titan’s H2 likely to be better

** “We expect the virtuous cycle of market share gains to continue for Titan as it steps up its investment in the wedding jewellery segment and stands to be a big beneficiary of the jewellery industry getting more formalized,” DB said in a note on Nov 10

** DB raises TP to 1,100 rupees from 1,050 rupees; maintains rating at “buy”

** About 4.6 mln shares change hands, compared with the 30-day moving avg of about 3.5 mln shares

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