Titan misses the growth bus in Q1; analysts remain bullish on prospects

High base of last year, muted bullion and jewellery demand main reasons; analysts remain bullish on prospects

The Titan Company's stock shed about 5.6 per cent in trade on Thursday, after the company indicated jewellery segment sales in the June quarter (after several quarters of strong growth) would be weak and below the company’s own targets.

The management said the sector had gone through a soft patch during the first five months of this calendar year, as seen in a 39 per cent decline of gold import by volume. Demand for both bullion and jewellery has been weak in this period. What will impact growth in the quarter is also the high base of last year in