Q2 show, lower gold prices and expansion may help sustain Titan's rally

The other positives are lower gold prices, higher festive and wedding season sales, and market share gains

The Titan Company’s (Titan) outperformance since the beginning of August is expected to continue after it indicated in its September quarter update on Wednesday a strong recovery in demand.

Sales across segments have either surpassed or are close to the pre-pandemic level. As a result, most brokerages have upgraded their earnings estimates for financial year 2022-23 (FY23) and FY24 and increased the stock’s target price.

The stock rose 10.7 per cent on Thursday, adding to the 25 per cent increase it has seen since the beginning of August, which is double the rise of the Sensex.

Pent-up demand and deferred purchases across weddings,