Tata Firm Crosses Rs 3 Lakh Crore M-Cap; Aims Rs 1,00,000 Crore Biz, Offer 3,000 Jobs In Next 5 Years

Tata Group-backed Titan Company touched a huge milestone on Tuesday with share price crossing over Rs 3 lakh crore market valuation as it touched an all-time high of Rs 3,400 apiece on BSE. Titan is the leader in the gems and jewellery sector in India in terms of market share. The company has announced huge plans for the next five years. It aims to achieve Rs 1,00,000 crore business while offering over 3,000 jobs ahead.

On BSE, Titan shares ended at Rs 3,394.15 apiece, up by Rs 48.30 or 1.44%. Its market cap stood at Rs 3,01,327.94 crore at the closing price. During trading hours, Titan touched a record high of Rs 3,400, gaining by about 2%.

Year-to-date, Titan shares have rallied by at least 32.3% on BSE.

Titan announced that it is planning to hire over 3,000 employees over the next five years. The hiring will be across various fields such as digital, e-commerce, sales, optometry, design and engineering. Also, Titan plans to raise its percentage of employees in the engineering department by 50% in the next 2 to 3 years.

For the hiring, Titan will seek professionals who are equipped with specialised skills like data analytics, cyber security, product management, digital marketing, and other new-age skills.

Apart from this, Titan aims to become a Rs 1 lakh crore business in the next five years. The company believes that alongside growing its employee base, it will help bring in experts from a diverse and talented workforce.

Titan expects the increase in workforce to accelerate its growth and innovation while further strengthening their position in the industry. Also, the company will continue to expand its portfolio across brands like Tanishq, Mia, Fastrack, Sonata, Eyeplus, Taneira, Skinn and Caratlane in both the Indian and overseas markets. Additionally, Titan will also put a significant focus towards augmenting the luxury segment.

From the latest rally, the late-Rakesh Jhunjhunwala whose wife Rekha is one of the biggest gainers in Titan shares. As per the shareholding pattern, Rekha holds 47,695,970 equity shares or 5.4% in Titan as of September 30, 2023, making her one of the largest public shareholders.

Titan accounts for nearly 44% of the total value of Rekha's overall portfolio. As per Trendlyne data, as of November 21, Rekha's shareholding value stood at Rs 16,190.2 crore in Titan -- which is 43.76% of her total net worth of Rs 36,995.37 crore as of now.