India's Titan falls on slower September-quarter jewellery growth

Titan

07/10/2026 05:48

** Shares of Titan TITN.NS fall as much as 4.7% to 4335.60 rupees, their lowest level in three months
** Stock posts its biggest intra-day pct fall since May 
** The Indian retailer reports slower growth in its mainstay jewellery business for the September quarter, as a shift in the festive calendar delayed purchases
** Brokerage BofA says the underlying quality of jewellery growth may be stronger than the headline revenue figure suggests
** Helped by the 'Festival of Diamonds' campaign and brand-level promotions, studded jewellery grew strongly in the early thirties while plain gold jewellery grew c.20% YoY - TITN 
** BofA views the favourable sales mix as supportive of profitability and potentially capable of offsetting some of the revenue shortfall
** YTD, Titan stock up 7.7%
     

 (Reporting by Puyaan Singh in Bengaluru)
 ((puyaan.singh@thomsonreuters.com))