All that glitters is gold for Titan

Strong 54% growth in jewellery business lifts share price by 10% to all-time high

Over three quarters, better than expected results have pushed Titan Company’s stock to a high. The June quarter (Q1 of 2017-18) results were no different. The stock gained about 10 per cent to end the day at Rs 610.45, a new high.

 Two events earlier thought detrimental for the company – demonetisation in November 2016 and rollout of the goods and services tax (GST) on July 1 — have both worked in favour of Titan. Revenue in Q1 at Rs 3,910 crore rose 42 per cent year-on-year, the best growth rate thus far by a consumer goods company in the quarter.