Tata Conglomerate Has a New Company in Its Top Rung: Chart

(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 of $11.4 billion, about $740 million more than Tata Steel.

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