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.
Eyewear business has been a little slow to take off but we believe that it is the place to be, says Bhaskar Bhat, MD, Titan Company Ltd
The stock was up 5% to Rs 881, bouncing back 7% from intra-day low of Rs 825 on the BSE.
The stock hit a new high of Rs 970, up 3.3%, has surpassed its previous high of Rs 963 recorded on March 28, 2018 on the BSE in intra-day trade.
The stock hit a new high of Rs 950, up 6%, surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade on the BSE.
TBZ, PC Jeweller, Gitanjali Gems, Renaissance Jewellery and Thangamayil Jewellery are up in the range of 4% to 7% in otherwise subdued market.
High growth in wedding jewellery segment is the key revenue driver
The stock up 10% to Rs 616 after posted profit of Rs 238 crore in June quarter
Titan aims to energise its current customer base
Rising formalisation of industry could aid market share gains and support stock's valuations
Titan Company, Tribhovandas Bhimji Zaveri and PC Jeweller were down between 3% and 5% on the BSE.
But for the healthy traction in studded/diamond jewellery, Titan's revenues would have come in even lower
Revenue flat at Rs 2,676 cr; Tanishq brand grows 39% on strong diamond studded jewellery sales in the quarter
Results miss estimates on muted sales volume, one-off expenses
Deal value, stake details to be disclosed when definitive documents are signed; Tiger Global to exit from Carat Lane