Ratan Tata’s company got excited with the announcement of the country’s Finance Minister Nirmala Sitharaman. The Finance Minister has reduced the import tax on gold and silver by 6 percent in the budget. After which there was an increase of up to Rs 19,000 crore in the valuation of Titan, one of the premium companies of Ratan Tata. In fact, after this order, there was an increase of around 7 percent in the shares of the company. Ratan Tata’s titan company is the jewellery brand Tanishq. Due to which there has been an increase in the shares of the company. Let us also tell you to what extent the shares of the company have become and how much increase has been observed in the market capitalization of the company.
Titan shares surge
There has been a good rise in the shares of Ratan Tata’s Titan Company. According to BSE data, the shares of Titan closed at Rs 3,468.15 with a rise of 6.63 per cent. However, during the trading session, the shares of Titan touched the day’s high of Rs 3,490 with a rise of 7.30 per cent. However, the shares of Titan Company opened at a flat price of Rs 3,252. According to experts, the shares of the company may rise further in the coming days.
Huge benefits for investors
On the other hand, if we talk about the stock market investors, they have benefited a lot. Let us try to understand this with an example. If an investor holds 10,000 shares of Titan. Then, based on the increase of Rs 215.55 in one share, the investor has made a profit of Rs 21,55,500 on 10 thousand shares. Which is not any less beneficial in any aspect. Investors may see more such gains in the coming days.
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Increase in company valuation
Due to the rise in the company’s stock, there has also been an increase in the company’s valuation. As per the data, there has been an increase of over Rs 19,000 crore in the valuation of Titan. A day ago, Titan’s market capitalization stood at Rs 2,88,757.16 crore. Which increased to Rs 3,07,897.56 crore on Tuesday. This means that there has been an increase of Rs 19,140.4 crore in the company’s valuation.
Why did the company’s shares rise?
Finance Minister Nirmala Sitharaman on Tuesday proposed to reduce basic customs duty on gold and silver to 6 per cent and on platinum to 6.4 per cent. Reduction in basic customs duty on gold, silver and platinum has been a long-pending demand of the gems and jewellery industry. Following this decision, a fall of over 5 per cent has been seen in the price of gold in the futures market of the country. On the other hand, silver has fallen by over Rs 5,000 during the trading session. According to experts, this decision will bring a lot of relief to the common people.
