Titan Company gains 5% as Q2 jewellery business meet expectations

Titan Company was trading 4.7% higher at Rs 812 against 0.96% decline in the S&P BSE Sensex at 10:20 am.

Shares of Titan Company was up 5% to Rs 814 on the BSE in otherwise weak market after the company said jewellery business in July-September (Q2) quarter picked up very well after a relatively soft growth in previous quarter.

The growth in the jewellery industry in the last few months has been challenging on the back of several factors like lesser number of wedding dates, increase in Gold prices, tightening of the credit to the industry, subdued consumer demand etc.

“Despite these challenges, our Jewellery business has done well due to gains in market share on the back