Titan jumps 4% on Q2 business update

NEW DELHI: Shares of Titan Company climbed 4 per cent in Friday’s trade after the company said it performed well across its business verticals in the second quarter.

The company said it gained in market share across verticals on the back of well laid out strategies for each of its businesses. While the watch business carried on its good run from the first quarter, the growth in the jewellery business picked up very well after a relatively soft growth in June quarter, it told stock exchanges.

Following the development, the stock rose 4.13 per cent to hit a low of Rs 808.20 on BSE.


For jewellery business, the company gained in market share on the back of new collection launches and extended diamond studded activation. This is even as there was lesser number of wedding dates, an increase in gold prices and tightening of the credit to the industry.

Ace investor Rakesh Jhunjhunwala and his better half Rekha Jhunjhunwala together held 7.09 per cent stake in the jewellery stock as of June 30 that is valued at Rs 5,000 crore.

The company said that there is a sense of optimism in the outlook of the economy in general, employment and household income.