Titan Industries Ltd’s 21,13,038-6.75% Secured Non Convertible Debentures have received a higher rating of LAA- from Investment Information and Credit Rating Agency (ICRA). ICRA has upgraded the credit rating of the said debentures from the earlier rating of LA+ to LAA-. The LAA- rating assigned by ICRA signifies reduced credit risk for the instrument.
Titan Industries is India's leading manufacturer of watches and jewellery and the world's sixth largest manufacturer brand of watches. The company established in 1984 and is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation.
In 1995, the company diversified into jewellery under the brand Tanishq. Titan has also diversified into fashion eyewear with its Fastrack Eye Gear sunglasses.