India's Titan rises as record gold rally boosts jewellery business revenue

Shares 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.