Titan Shares Fall After Q2 Sales Miss; Analysts See Opportunity

Titan’s shares went down after its Q2 sales did not meet some expectations.

Analysts said jewellery sales were affected by festivals happening later and fewer people buying gold coins as investments.

They said this did not necessarily mean that shoppers were losing interest in jewellery.

Titan’s jewellery business still grew by 21% compared with the same period last year.

Its watches and Eyecare businesses also grew.

The company opened 78 new stores, bringing its total store network to 3,758.

Several brokerages still rated the shares a buy and set targets above the share price reported in the article.

Nomura said a price drop could give investors a chance to buy shares.