Titan is all set to acquire a majority stake in Chennai-based online jewellery portal Caratlane. The acquisition would be completed after the company completes its due diligence. The transaction is expected to be consummated in June, and the exact stake will be revealed by then.
While Titan will get a stronghold in the online space, Caratlane gets a backing of Tanishq, a big brand in the jewellery industry. Speaking of the acquisition, Bhaskar Bhatt, MD Titan said in a statement, “For Titan, the acquisition brings significant capabilities in the e-commerce space along with a brand, a customer segment and a business model that are very.
Shares of the company gained Rs 16.95 per share at Rs 431.70 with a gain of 4.09%. We predict to buy in Titan in previous session. Get more Stock prediction with proper analysis from Stock Tips