Titan Company gains post September quarter results

The stock was up by 4% at Rs 883, recovering 5% from its early morning low of Rs 842 on the BSE.

Shares of Titan Company were up by 4% at Rs 883 per share on the BSE after the company’s jewellery division reported a strong 29% year-on-year (Y-o-Y) revenue growth in September quarter (Q2FY19) despite the muted growth witnessed by the industry. The stock recovered 5% from its early morning low of Rs 842 on the BSE.

The company said most of the growth in jewellery segment coming from 24% volume growth. Gross margin was lower than the previous year as plain jewellery segment grew much faster than the studded segment, leading to the studded ratio of only 35%, compared