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Titan gains 3% as Q3 jewellery retail sales meet expectations

The stock was up 3% to Rs 869 on the National Stock Exchange in intra-day trade so far

Titan
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SI Reporter Mumbai
Titan Company was up 3% to Rs 869 on the National Stock Exchange (NSE) in intra-day trade so far after the company said jewellery retail sales in October-December quarter (Q3FY18) has been healthy and in line with internal management expectations, despite Dussera being celebrated in the previous quarter.

But primary growth in the quarter was lower due to a higher franchisee billing of about Rs 250 crore that happened towards the end of the previous quarter, Titan Company said in a regulatory filing.

Traditionally, September-December quarter yields the largest revenue for Titan since both Dussera and Diwali festive

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