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After foraying into gold jewellery, watch major Titan Industries is now planning to enter silverware. Market sources said the company was working out initial entry strategy to make a dent in this Rs 5,000-crore market, which akin to the jewellery segment and has few organised/brand players. With this new strategy, the broad game plan is to provide all kinds of jewellery requirements under one roof. It would also enter into the adornment segment with sunglasses and leather accessories (wallets and belts) under the `Fastrack' brand. Likely extensions could be into pens and ties, dealers said. These are aimed at generating incremental revenues.

Dealers said the company was expected to show robust growth in the next few quarters. Besides, the entry into new areas would also add to topline and bottomline.

The view in the market is that with all these developments, the stock is likely to be re-rated from a pure watch company to retailing business.On the back of these expectations, some institutional players added Titan to their portfolio. The stock ended 9.08 per cent higher at Rs 61.75 on the BSE with volumes of 2.51 lakh shares. On the NSE, the stock closed at Rs 61.45, up 9.65 per cent with volumes of 2.84 lakh shares.

FIIs offload Moser Baer

RECORDABLE Compact Disc (CDRs) manufacturer Moser Baer has come under heavy selling pressure from FIIs in the last couple of days.

The talk in the market is that a leading FII is believed to have off-loaded the shares after the company lowered its earnings guidance. The view of the FII is that globally CDR market has become highly competitive and also there is a possibility of fall in prices. This will have a bearing on the financial performance of the company in the next few quarters. Dealers said the stock might see further selling in the next few days.

After falling 20 per cent on Thursday, the stock, however, recovered on Friday to close at Rs 164.25, up 3.96 per cent with volumes of 5.82 lakh shares on the BSE. On the NSE, the stock closed at Rs 161.45, up 2.91 per cent with volumes of 17.36 lakh shares.

Virendra Verma

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