Titan Company falls for second day; down over 28% in three months

Titan Company tumbled 5.98% to Rs 1,937.80, extending losses for second day.

The stock has fallen 7.95% in two sessions, from its recent closing high of Rs 2,105.05 recorded on 15 June 2022.

In the past three months, the stock has declined 28.32% while the benchmark Sensex has lost 11.26% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 26.756. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

In daily chart, the stock is trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 2262.02, 2378.18 and 2360.81, respectively.

Titan Company is engaged in making and selling watches, jewellery, eyewear, and others.

The Tata Group company reported 7.18% decline in standalone net profit to Rs 491 crore in Q4 FY22 from Rs 529 crore in Q4 FY21. Total income for the quarter ended March 2022 stood at Rs 7,352 crore, rising 3% from Rs 7,169 crore posted in Q4 FY21.

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