Titan shares fell over 2% on Monday, despite the company reporting robust business performance for the September 2024 quarter. The stock initially opened 2.36% higher at ₹3,750 on the BSE but soon declined due to profit booking, trading over 2% lower later in the day.
The Tata Group company posted a 25% year-on-year (YoY) growth in Q2FY25, driven by better-than-expected growth across most segments. During the quarter, Titan expanded its retail network by adding a net of 75 stores, bringing its total to 3,171 outlets.
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Titan’s jewellery domestic operations saw a 25% YoY increase in Q2, following a softer Q1. The non-solitaire studded segment experienced significant growth, while the solitaire segment faced challenges due to price fluctuations and demand-supply issues in international markets, leading to overall studded sales growing in low double digits.
The Watches & Wearables segment grew 19% YoY, with analog watches seeing a 25% rise, driven by both volume and value growth. EyeCare’s domestic business rose 6% YoY, while Taneira’s revenue in the Emerging Businesses segment grew 11% YoY.
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Recently, Titan’s stock has been under pressure, dropping over 6% in one week and 3% in one month. Despite gaining 9% over three months, it is down 2% year-to-date, with an 8% rise over the past year.
