Timex Group India Ltd 533014

Name of Company	Timex Group India Ltd
BSE Code	533014
NSE Code
ICICI Code	TIMWAT
Established
My Take	Like
Headquarters	New Delhi
Promoters	MNC
Story	MNC stock. Official sponsors in 2011, parent company is largest manufacturer of watches. Sell after 2012. Buy more below 20. Timex(USA) is established in 1854 and is a famous brand.
Sector	Manufacturing
Sub-sector	Watches
Website	http://www.timexindia.com/
Positives	75% held by promoters. Considered a fashionable watch brand and has significant value. Earning youth are resulting in more timex watches being sold. India is the second largest market for Timex after USA. 20 stores are being opened in tier I and II cities. Kapil Kapoor has been elevated to be global COO of Timex worldwide – Indian operations may have more significance. The glitter of a MNC keeps this share attractive.
Negatives	Identification as owned by Tata/Titan causes some devalue to brand (The joint venture ended in 1998). Titan dominates the Indian market with a market share of 60% of organized watch sales. Timex is at 10%. The promoters may think of delisting the Indian entity (they already hold 75%). At Rs. 30, the P/E is at 40 based on FY09 earnings.
Peers