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Titan Company shares hit new high on good growth in jewellery in Q4FY18

The stock hit a new high of Rs 970, up 3.3%, has surpassed its previous high of Rs 963 recorded on March 28, 2018 on the BSE in intra-day trade.

SI Reporter  |  Mumbai 

Titan

Shares of hit a new high of Rs 970 per share, up 3.3% on the BSE after the company said that its jewelry segment saw mid-teen retail sales growth during the quarter ended March 2018 (Q4FY18). The stock surpassed its previous high of Rs 963 recorded on March 28, 2018 on the BSE in intra-day trade.

“The division had good sales growth in FY 17-18 on the back of very successful diamond activation and a more customer friendly revised gold exchange policy. The retails sales growth for the quarter was in mid-teens for the division,” in quarterly update.

The division had a great quarter on the back of good retail growth especially in the multi-brand retail formats as well as e-commerce. In the last financial year, e-commerce channel has grown disproportionately and is contributing to about 10% of the division's sales, it added.

Titan said in FY17-18, and business scaled new heights in terms of revenue growth and profitability which is a result of market share gains in both businesses as well as the success of the cost control initiatives of the Company.


First Published: Mon, April 09 2018. 09:53 IST
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