Tag: jewellery

Shares of Titan Company dropped 3 percent to Rs 2,470.70 in Monday’s intra-day trade, in an otherwise firm market, after Titan Company reported a 12 percent YoY growth in standalone business, with the jewelry segment growing at 11 percent YoY, Watches & Wearables at 14 percent, EyeCare at 10 percent and emerging businesses at 75 percent. Titan Company said it continued to expand its network with 129 store additions for the quarter, taking its total store count to 2,537. The Street had forecast a growth of 17 percent on-year on the back of a strong wedding season. A total of 111 new retail outlets were added in the quarter across businesses, taking the total count to 2,362. Titan's jewelry retail brand Tanishq opened its first international boutique store in the USA in December 2022. The company now has a total of six stores spread across Dubai, Abu Dhabi, and the USA in the overseas market. Read more

Shares of Tata group firm Titan surged 8 percent to Rs 2,170.95 on the BSE in Thursday's intra-day trade after the company said its total sales in the first quarter of fiscal 2022-23 (Q1FY23) grew 205 percent year-on-year (YoY) led by strong wedding demand and a low base. Its network expansion and campaigns continued to progress well throughout Q1FY23, which was the non-disrupted first quarter in the last three years, said Titan in its quarterly updates. In Q1FY23, jewelry revenue nearly tripled, clocking a growth of 207 percent. The Division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after 2 years of Covid-induced lockdowns in this period. Both walk-ins and buyers grew in line with revenues whereas ticket size marginally improved compared to Q1FY22, Titan Company said in its exchange filing. Read more

Rakesh Jhunjhunwala’s portfolio stock Titan Company hit a record high on Thursday and rose over 5% and is among the top Nifty gainers in trade on March 17, 2022. Titan’s stock rose 5.2% at Rs 2721.65 per share on NSE and was up 5% at Rs 2720 apiece on the BSE in intraday trading. According to stock market experts, the stock is expected to reap the margin benefit of the recent gold price rally in the international market. They said that chances are bright for the jewelry stock to give better Q4 numbers in the upcoming result season. They said that Titan share prices are in an uptrend and may climb to a new lifetime high in the next month. Last week on Friday, the company said its subsidiary has inked an agreement to acquire 17.5% voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore). TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for the subscription of shares Read more

Titan saw its December quarter (Q3) net profit zooms 135 percent to Rs 987 crore compared to the year-ago period to Rs. 419, sharply beating analysts' estimate of Rs 847 crore. Titan said the October-December 2021 period was one of its best quarters in terms of growth and profitability. Titan's quarterly revenue increased 30.6 percent on a year-on-year basis to Rs 9,515 crore, according to a regulatory filing. The company said it saw strong demand across its consumer businesses. Its jewelry division did “exceedingly well”, and other divisions also witnessed growth over pre-pandemic levels. The jewelry business of the company jumped 37 percent on year to Rs 8,563 crore in the reported quarter. The watches and wearables business of Titan posted a 29 percent on-year growth in sales to Rs 708 crore, while the eyewear operations grew 26 percent. It posted an EBITDA margin of 14.7 percent in the third quarter of FY22, as against 11.8 percent in the year-ago period. Read more