Meanwhile, the BSE Sensex was up 135.41 points, or 0.92%, to 15547.35.

On BSE, 8764 shares were traded in the counter as against an average daily volume of 27,059 shares in the past one quarter.

The stock hit a high of Rs 1335 and a low of Rs 1290 so far during the day. The stock had hit a 52-week high of Rs 1509 on 14 October 2009 and a 52-week low of Rs 668 on 12 March 2009.

The stock had outperformed the market over the past one month till 3 November 2009, rising 1.66% as compared to the Sensex 10.09% fall. It outperformed the market in past one quarter, gaining 5.48% as against 3.26% decline in the Sensex.

India's biggest watch and jewelry retailer by sales has an equity capital of Rs 44.39 crore. Face value per share is Rs 10.

The current price of Rs 1321.63 discounts the company's Q2 September 2009 annualised EPS of Rs 69.93, by a PE multiple of 18.89.

Titan Industries' net profit fell 11.6% to Rs 77.60 crore on a 5.4% increase in sales to Rs 1146.80 crore in Q2 September 2009 over Q2 September 2008. The company announced the results on 23 October 2009.

The company said high price of gold had impact on customer walk-ins at its stores. It, however, added that there was a significant improvement in sales during the recent festive season of Dussehra and Diwali, indicating that the customers have come to terms with the high gold price and resuming jewellery purchases

The benchmark December gold on the Multi Commodity Exchange (MCX) closed 3.1% higher at Rs 16,618 per 10 grams on Tuesday, 3 November 2009, after hitting a record high of Rs 16,639.

Titan Industries retails branded jewellery under the brand name 'Tanishq'. It has five watch brands and an eyewear chain Titan Eye+. The company sells watches under its premium brand Titan and economy brand Sonata.

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