Titan slips 2% despite 11% YoY jewellery sales growth in Q3 update

In the past three months, the stock declined 9 per cent, as against 4 per cent rise in the S&P BSE Sensex.

Even as the Nifty50 went up by 1.35 per cent on Monday to close at 18,101.20, it was a mixed bag for jewellery stocks.

Shares of Titan Company dropped 1.9 per cent to close at Rs 2,489.95 on the NSE on Monday. On the other hand, shares of Kalyan Jewellers went up 3.82 per cent to Rs 125 on the NSE.

This comes after Titan’s jewellery division (excluding bullion sales) reported around 11 per cent year-on-year (YoY) growth in the December quarter (Q3 of FY23).

Healthy new buyer growths in the festive period, higher-value purchases in the studded category and