India's Titan rises as record gold rally boosts jewellery business revenue
Wallach ShureShares of Indian jeweller and watchmaker Titan Company ,, rose about 5% on Tuesday, set for their best day since July 2024, after the company said it expects a 25% rise in its fourth-quarter standalone revenue.
The revenue growth, higher than the same period a year ago, was propelled by a record rally in gold prices, as investors fled to safety amid high geopolitical tensions and escalating economic uncertainty due to U.S. tariff policy.
The company's jewellery business accounts for a majority of the overall revenue. The rise in revenues in the January-to-March quarter was led by "high double-digit growth" in higher price band jewellery, said the company.
Higher gold prices did not deter affluent Indians from splurging on ornaments for weddings and accumulating gold as a form of investment.
The shares rose to 3,185.75 rupees in Mumbai as of 9:30 a.m. IST. The benchmark Nifty 50 index ,, was up 1.7%.
Analysts rate Titan 'buy' on average, according to data compiled by LSEG, similar to peers.
ei उपयोगकर्ता कृतियों को वितरित करने के उद्देश्य से है, लेकिन इसका मतलब उनके विचारों से सहमत होना या उनकी सामग्री की प्रामाणिकता की पुष्टि करना नहीं है। कृपया पढ़ते और ब्राउज़ करते समय अपना निर्णय लें। लेख ei पर पंजीकृत उपयोगकर्ताओं द्वारा प्रकाशित किए जाते हैं, ei द्वारा नहीं। यदि कोई उल्लंघन है, तो कृपया प्रसंस्करण के लिए समय पर हमसे संपर्क करें, और हम जल्द से जल्द इसका जवाब देंगे और हल करेंगे।
