Titan Company falls 4% on concerns of muted sales growth in June quarter

The stock was down 4% to Rs 853 on the BSE in early morning trade after the Tata Group Company said that the sales growth in Q1FY19 has been muted due to the weakness in the consumer sentiment.

Shares of Titan Company have fallen 4% to Rs 853 per on the BSE in early morning trade after the Tata Group Company said that the sales growth in April-June quarter (Q1FY19) has been muted due to the weakness in the consumer sentiment.

"The jewellery industry has been going through a significant soft patch in the first 5 months of CY 2018 as evidenced in the decline of imports of gold by 39% in volume terms. This is primarily led by decline in demand for bullion and to some extent by weak demand for adornment during the