Shares of Titan Company surged as much as 5.7 per cent to a record high on Wednesday after the firm reported a sharp rise in quarterly domestic sales, supported by higher gold prices and increased buyer volumes.
The Bengaluru-based company said its core jewellery business, which contributes over 90 per cent of revenue, grew 46 per cent year-on-year in the quarter ended 31 March. Overall domestic sales rose 42 per cent, aided by both higher average selling prices and improved consumer demand.
The strong performance comes amid a rally in gold prices, with spot gold rising nearly 8 per cent during the quarter.
Titan, which operates prominent brands such as Tanishq and CaratLane, also reported a recovery in buyer growth, with high single-digit expansion compared to nearly flat trends in the previous three quarters of FY2026.
Broader market sentiment remained positive, with the Nifty 50 trading around 3.5 per cent higher following news that Donald Trump had agreed to a two-week ceasefire with Iran.
However, Titan noted that its international business faced disruptions in March due to the ongoing US–Israel–Iran conflict.
Among other segments, the company’s watches division, its second-largest business, grew 7 per cent, driven by premiumisation and higher ticket sizes, while eyewear sales rose 16 per cent during the quarter.
Titan had earlier reported a 22.5 per cent increase in consolidated revenue to Rs 140.49 billion, reflecting broad-based growth across segments. |
