Consulting firm Deloitte provides industry leading audit, consulting, tax and auditory services to a big chunk of the world’s most admired brands. In it’s latest report on luxury brands named “Global Powers of Luxury goods 2018” includes companies by sales such as LOrèal luxe, Rolex SA, Tiffany and Co., Jimmy Choo plc to name a few.
Also it included three listed Indian firms and two unlisted in it’s latest report on luxury brands, namely the Titan Company (ranked 28th), Kalyan jewellers India (37th), PC Jewellers (43th), Joylukkas India (49th) and TBZ – Tribhovandas Bhimji Zaveri (89th) among 100 largest luxury goods companies in the world.
Titan, PC Jewellers and TBZ from here are listed on BSE and NSE and have given mixed resturns in the past year. As a result, jewellery stocks have testified a bullish undercurrent on trade. Gitanjali gems, TBZ, PC Jewellers and Titan Company are trading bullish on BSE in the first half of trade on BSE.
PCJ traded over 17% at Rs. 527.70, Gitanjali gems traded over 8% at Rs. 69.50 per share, TBZ Ltd. traded over at 8% at Rs. 97.90 per share and Titan Company traded over 3% at Rs. 488 per share on BSE of trade. Titan is up 92% to Rs. 917, PCJ is down 10% to Rs. 198.65, while TBZ gained just 9% to Rs. 95 in the last one year.
Top notch investor Rakesh Jhunjhunwala who is an Indian billionaire investor, trader, and chartered accountant, film producer and manager of ‘Rare enterprises’ owns over 8% stake in Titan Company. It is constantly his favorite stock and so a big chunk of his portfolio is invested in the company.
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In the March quarter, Tata group firm reported a 70.86% of jump in its amalgamated net profit at Rs. 304.41 crore. Brokerage Edelweiss securities conceived of Titan Company to extend its growth run led by share gains, retail expansion to name a few.
PCJ share price, in the meantime, perceived a roller coaster ride on Dalal street as rumors of promoters selling their stake in the company surfaced. The stock then gained 10% to hit its trade.
However, PCJ Ltd. is presently trading at Rs. 530.15, up by Rs. 79.95 or 17.76% from previous closing of Rs. 450.2 on the BSE. The scrip opened at Rs. 456.05 and has reached a high and low of Rs. 585 and Rs. 450.05 respectively. Till now, 6279139 shares were traded on the counter. The current market cap of the Co. is Rs. 8064.77 crore.
TBZ earlier reported 9.6% SSG and Rs. 7.04 crore PAT led by around 10% volume growth and developed footfall in the recent wedding season. The management of the Co. anticipated of opening 15 stores in FY19 out of which 10 stores Indicated reasonable level of success. The balance sheet of the company remains healthy with flat inventories and just a 4% increase in debt.
India is currently undergoing a speedy digital transformation meanwhile taking care of problems such as high import duties, unstable price parity etc.
Analysts claim that those who dare this would be able to generate money. “New investors should use this correction as an entry opportunity, as we believe long term fundamentals of the economy remains intact,” said Sandeep Raina, Associate Director, Edelweiss Investment Research.