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Titan Company completes exit from Montblanc JV

Titan Company on Friday announced that it has completed its exit from Montblanc India Retail Private Limited (MB India).
Consequently, MB India ceases to be an associate/ JV company of the company with effect from 12 March 2021.
Earlier in October 2020, the company had informed the exchanges regarding the ending of its joint venture with MB Services in respect of its shareholding, which was mainly driven by the Titan s consolidation strategy to focus on its primary business and proprietary brands.
Subsequently, the company exercised its put option under the joint venture agreement and accordingly its 49% holding in MB India was transferred to the purchaser on 12 March 2021. ....

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Barometers hover near day's low; broader market tumbles

Key equity indices traded in a narrow range near the day s low in afternoon trade. The Nifty was trading below the 14,800 mark. Rising domestic inflation and increase in COVID-19 cases sapped investors appetite for risk assets.
At 13:20 IST, the barometer index, the S&P BSE Sensex, tanked 859.26 points or 1.69% at 49,932.82. The Nifty 50 index lost 256.65 points or 1.71% at 14,774.30.
Reliance Industries (down 2.25%), ICICI Bank (down 3.39%) and HDFC Bank (down 2.02%) were major drags.
The broader market tumbled. The S&P BSE Mid-Cap index declined 1.80%. The S&P BSE Small-Cap index dropped 1.12%.
Sellers outnumbered buyers. On the BSE, 898 shares rose and 2,049 shares fell. A total of 184 shares were unchanged. ....

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