Titan Company Limited’s shares continued their upward streak marking its sixth consecutive day of gains following the Competition Commission of India’s approval of Titan’s additional stake purchase in CaratLane, its subsidiary.

What Happened? The company announced it had increased its shareholding in CaratLane from 71% to 98.28%, investing ₹4,621 crore for the additional stakes, as per a statement to the exchange.

Titan first entered CaratLane in 2016, acquiring a 62% stake for ₹357.24 crore, making it a subsidiary. Since then, Titan has gradually increased its stake in the omni-channel jewellery retailer. This move aligns with Titan’s strategy to strengthen its presence across various lifestyle segments, including jewellery, eye care, fragrances, and fashion accessories.

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CaratLane, which began as an online-only brand in 2008, has flourished, particularly in the affordable and accessible jewellery market. In collaboration with Titan’s jewellery brand Tanishq, CaratLane has seen significant growth. The recent stake increase aims to solidify Titan’s hold in this segment.

Price Action: Titan Company Ltd. shares were up 0.75% at ₹3,419.75 on Wednesday morning. The stock of the Tata Group’s watch and jewellery retailer has shown impressive growth this year, surging 32%, including a 6% rise in November alone. The Titan share price also surged to its all time high of ₹3,425.

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