In the recent market developments, Titan Co reported a 20% year-over-year (YoY) increase in Q2 revenues, aligning with the company's consistent growth trend. The company also expanded its retail presence with the addition of 81 new stores. The bank also reported total advances growth of 17% YoY and a quarter-over-quarter (QoQ) increase of 3% at the end of the September quarter.
Titan Co, a prominent player in the Textiles, Apparel & Luxury Goods industry according to InvestingPro Tips, has been yielding high returns on invested capital. This has been reflected in its robust market cap of Rs 2.94 trillion, as provided by InvestingPro Data.
In other corporate news, SoftBank (TYO:9984) divested a 2.5% stake in PB Fintech, selling 1.14 lakh shares. KPI Green Energy secured orders for 4.20 MW solar power projects in the 'Captive Power Producer' segment. Adani Solar Energy Jaisalmer, a subsidiary of Adani Green Energy, commissioned a 150 MW solar power project in Bikaner, Rajasthan.
The Abu Dhabi Investment Authority invested Rs 4,966.80 crore ($663 million) for a 0.6% stake in Reliance Retail. This investment signals continued interest from global investors in Indian retail markets.
Meanwhile, Biocon and Juno Pharmaceuticals have entered into a partnership to commercialize Liraglutide, a drug-device combination for the treatment of Type 2 diabetes and obesity. This partnership is expected to strengthen both companies' positions in the pharmaceutical market.
In regulatory news, the Income Tax Department conducted a search at Puravankara's registered office and other premises. The reason for the search has not been disclosed yet.
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