India's Senco Gold slips after Q1 sales growth disappoints

Senco Gold

09/07/2024 09:18

** Shares of Senco Gold  SENC.NS  down 5.4% to 1,002.5
rupees
    ** Jewellery retailer says Q1 total sales grew 9% YoY
    ** But brokerage Motilal Oswal says revenue was below
expectations, although sales grew in festive period despite
challenges including heat wave, elections, and fewer wedding
days
    ** Rival Titan Company  TITN.NS  posted weak quarterly rev
growth on Friday, sending its shares down on Monday
    ** SENC stock on track to fall in six out of seven straight
sessions if trend holds
    ** Stock on track for second-worst day so far in 2024; worst
day was March 13 when it fell 8%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))