Titan stock under pressure, plunges to 4-month low; slips 21% in July

Despite near-term weakness, JP Morgan believes the structural market share gain-led growth strategy for Titan remains intact and would ensure healthy medium-term growth prospects.

Shares of Titan Company continued to reel under pressure, slipping 5 per cent intra-day to hit a four-month low of Rs 1,057 on the BSE on Thursday. Concerns of lower jewellery sales growth due to weak consumption trend dampened investors' sentiment. The stock was trading at its lowest level since March 3, 2019.

Thus far in July, the stock has underperformed the market by falling 21 per cent from the level of Rs 1,335 per share. In comparison, the benchmark S&P BSE Sensex has slipped1 per cent during the same period. The stock, however, hit an all-time high of Rs