Titan Company gains 5%, hits new high ahead of June quarter results

Analysts expect recovery to be faster relative to FY21 with 90 per cent stores already resuming operations and footfalls being higher than last year

Shares of Titan Company hit a new high of Rs 1,854.60 after they rallied 5 per cent on the BSE in the intra-day trade on Tuesday, ahead of the company's April-June quarter (Q1FY22) results on Wednesday, August 4. The stock of the Tata Group company surpassed its previous high of Rs 1,800, touched on June 25, 2021.

Titan saw good sales momentum during the first couple of weeks of Q1FY22. However, with the rising second wave of Covid-19, stores were gradually closed down by end-April with some unlocking in a few states in June, 2021.

Despite this, Titan