Titan slumps 13% on lower-than-expected Q1 growth in jewellery business

In its quarterly update, the consumer goods company said high gold prices in June impacted its jewellery business.

Shares of Titan Company slumped as much as 13 per cent to Rs 1,094 apiece on the BSE in the opening deals on Monday after the company reported a lower-than-expected growth in jewellery business during April-June quarter (Q1FY20) owing to a tough macro-economic environment with consumption taking a hit.

With today’s fall, the stock slipped 19 per cent from its all-time high level of Rs 1,341 touched on July 1, 2019.

At 10:06 am, the stock was trading 12 per cent lower at Rs 1,099 on the BSE against 0.53 per cent fall in the benchmark S&P BSE