Titan eases on mixed consumer response in festive season

Mixed consumer response across categories and lower sales in southern states on account of floods

Shares of Titan were down over 1% at Rs 347 after the company in its quarterly updated cited that the sales in southern states were impacted because of the floods and there was mixed consumer reponse across categories.

While jewellery sales were buoyant during the festive season, watches and eye wear categories did not see the expected traction, the compay said in a quarterly update.

The jewellery discion saw good traction during the festival season and same store growth was healthy. While the festive season was buoyant in the rest of the country, it was below par in Chennai, Bangalore and upcountry Tamil Nadu, on account of the rains, the release said.

The stock opened at Rs 350 and hit a low of Rs 344. At 12:50pm, over 600,000 shares were traded on both the stock exchanges.