(Bloomberg) -- Titan Co., an Indian maker of branded jewelry and premium watches, has overtaken Tata Steel Ltd. to become the third most-valuable firm in the Tata conglomerate. Strong second-quarter results and tailwinds from a government U-turn on a rule to bring jewelers under anti money-laundering code pushed Titan's shares up 31 percent so far in November, set for the biggest monthly gain since 2009. The surge gives the company a market value of $11.4 billion, about $740 million more than Tata Steel.
To contact the reporter on this story: P R Sanjai in Mumbai at psanjai@bloomberg.net.
To contact the editors responsible for this story: K. Oanh Ha at oha3@bloomberg.net, Arijit Ghosh at aghosh@bloomberg.net, Ravil Shirodkar
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