The death of investor Rakesh Jhunjhunwala, who owned a 5.1% share in Titan Company, will not have an influence on the valuation of the Tata Group Corporation, according to Titan Company's MD CK Venkataraman. "I can't think of anything." Even though it is tragic, Venkataraman told a news agency that Tata's foundations, which are still in place, are what keep him committed to Titan.
Titan Company stock worth 11,500 crores was owned by Jhunjhunwala. Regarding the impact of inflation, Venkataraman claimed that since Titan's clientele comprises the upper half of the national income distribution pyramid, there is no place for it there. Insignificant changes have also been made to Titan's product pricing, he added.
The MD said, "Eighty percent of our company is jewellery business, where inflation has no role," He further stated that "There has been no significant cost pressure on us."
125 outlets were added by the company in the past year. The total size of its retail chain, which includes CaratLane, exceeds 2.9 million square feet and consists of 2,303 stores spread across 366 towns.
According to Venkataraman, the company has expansion plans for tier-2 cities where there is a higher demand.