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Bloomberg Quint

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Titan Shares Fall 5% After Q1 Business Update Disappoints; Market Cap Sheds Rs 17,000 Crore

  • Titan Co. shares fell over 5% during early trade on Tuesday after Q1 update showed revenue growth impact due to gold price volatility.
  • The consumer businesses registered a growth of 20% year-on-year in the June quarter with the jewellery division reporting an 18% growth.
  • Analysts mentioned a moderation in revenue growth, being worse than feared, and expressed concerns about sustaining current valuations.
  • Titan share price fell 5.3% to Rs 3,472.1 apiece with the company trading ex-date for its dividend of Rs 11 per share.

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