<article>Tata Sons, the promoters of the $134-billion Tata group, will increase its stake in jewellery and watch retailer Titan Company Ltd, it said in a stock market filing.</article>

Tata Sons, the promoters of the $134-billion Tata group, will increase its stake in jewellery and watch retailer Titan Company Ltd, it said in a stock market filing.
Tata Sons will raise its holding by 0.22 per cent for an estimated Rs 66 crore ($9.9 million) from Tata International, as part of a restructuring of its investment portfolio in group companies. With this transaction, Tata Sons will own 19.8 per cent of Titan, which is listed with a market capitalisation of $4.8 billion.
This is the second time in the last three months that Tata Sons has bought more of Titan. In August, it had acquired an additional 2.2 per cent stake. The proposed date of the new acquisition will be on or after December 11, the company said.
Titan, which began as a watchmaker, still sells watches under its own brand name, and also owns the Tanishq jewellery brand. In August, Morgan Stanley upgraded Titan from &#8216;overweight&#8217; to &#8216;equal-weight&#8217;, citing continued strength of the jewellery brand. Shares of the company closed Friday at Rs 366.75.
Tata Sons is the parent company for 18 listed companies — including Tata Consultancy Services and Tata Motors — out of a total of over 100 firms, operating in India and abroad. It also owns the luxury automobile brand Jaguar Land Rover.
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Tata Sons, the promoters of the $134 billion Tata group, will increase its stake in jewellery and watch retailer Titan Company Ltd.

India: Tata Sons to raise stake in Titan for $9.9m as part of investment portfolio rejig

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India: Tata Sons to raise stake in Titan for $9.9m as part of investment portfolio rejig

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