Jewellery segment adds sheen to Titan's Q2 recovery even during shradh

Margins would, however, continue to be muted on lower studded ornament sales and discounts

Shares of Titan Company gained 4.5 per cent on Wednesday after the company indicated that business in the September quarter (Q2) had recovered significantly, especially for its bread-and-butter jewellery division.

In a quarterly update, the company highlighted that Q2 was on a par with the year-ago period, led by improving walk-ins. Conversion rates and average ticket prices, too, were higher on a year-on-year basis.  

Despite the inauspicious shradh period, Titan reported traction in the wedding jewellery segment. 

Higher sale of gold coins also reflected the rising consumer preference for the yellow metal as an asset class. The uptick in volumes during the quarter