Business Standard

From low prices to weak competition, how Titan hit gold during pandemic

India's gold demand has been slammed this year by lockdowns imposed from March end to control the coronavirus outbreak

Titan, Titan watch, titan jewellery, Titan q2
Premium

Titan also stands to gain from the financial distress faced by smaller jewellers

Swansy Afonso | Bloomberg
India’s biggest gold jeweller is emerging stronger from the coronavirus pandemic. Shares of Titan Co. posted the best quarter in nearly three years as investors bet on a recovery in demand ahead of the key festive season and as an economic slump weakens its competitors.

The stock jumped nearly 27% in the quarter ending Sept. 30, the most since the three months ended December 2017. That compares with a 9% increase in the benchmark S&P BSE Sensex.

The rally comes as local gold prices head for a second consecutive monthly loss, capping gains of about 30% this year. The drop

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 30 2020 | 8:46 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com