Weak sentiment, gold price volatility take sheen off Titan Company

Most brokerages are positive on the long term prospects of the stock

The stock of India’s largest jewellery maker Titan Company was down 3.2 per cent in trade on Thursday after its March quarter sales growth figures disappointed the Street. Given the slowing growth across its segments in Q4 and near-term worries, brokerages have cut their earnings estimates for FY22/FY23.

Sales of the company’s jewellery segment were down 4 per cent YoY from expectations of 15 per cent growth. The company indicated that there were disruptions during the quarter including the partial lockdown due to the Omicron wave in January followed by the weak consumer sentiment. The latter was due to sharp