Titan, a Tata Group company, plans to expand into the international market. Under this the company is introducing its jewelery brand Tanishkan in Bangladesh. Tanishk has entered into a joint venture agreement with Rhythm Group in this regard. Through this agreement, Tanishk will be made available in the Bangladesh market. According to a joint statement from the two companies, the joint venture will begin with the inauguration of a manufacturing unit in Narayanganj, Bangladesh. Let us tell you that Rhythm Group is a leading company of Bangladesh which was established in 1972 for the production of indigenous textiles and since then it has expanded into many sectors.
Focus on overseas expansion
Apart from the domestic market, Titan is also expanding Tanishk’s presence in the international market and operates 17 stores in UAE, US, Qatar, Singapore and Oman. Its watch business is present in SAARC, MENA (West Asia and North Africa), South East Asia regions. Over the past few years, it has focused on growing its flagship jewelery brand Tanishk overseas.
Target price of the stock
Kotak Institutional Equities in its report dated June 27 has given a ‘buy’ recommendation on Titan shares at the current market price. The target price for the stock is Rs. 3,600 per share has been fixed. Let us tell you that the current price of Titan shares is 3406.10 rupees. The stock touched a 52-week high of Rs. 3,885 is This price was as on 30 January 2024. The share price on August 7, 2023 was Rs 2,882.60. This is a 52-week low for the stock.