Titan

Premium brands in watches continued their strong performance with brand Titan and brands in Helios stores registering double-digit growth that were higher than the overall segment

Even as India Inc struggled with the two Covid waves in 2021-22, the jewellery-to-watches maker posted strong growth and continued adding stores

'Ethnic wear, women's bags and fine fragrances are categories which I see contributing much more significantly to customer share and revenue share in the next five years'

Capital markets regulator Sebi on Thursday disposed of show-cause notices issued against 22 individuals as the allegation of violation of insider trading rules was not established in Titan Company Ltd (TCL) case. The order came after the Securities Appellate Tribunal (SAT) in its ruling on February 7 had set aside Sebi's order against 22 individuals for violating insider trading norms in the shares of TCL and directed the regulator to pass a fresh order. In its latest order, Sebi said the 22 individuals (noticees) were "not designated employees" of the company and therefore, were not obligated to make disclosures under the PIT (Prohibition of Insider Trading) norms. Therefore, the adjudication proceedings against the noticees initiated through show-cause notices dated August 9, 2021 stand disposed of without imposition of any penalty, it said. In the matter, Sebi had initiated adjudication proceedings against the individuals for alleged violation of PIT norms in the scrip of Titan

The firm currently sees 26 per cent of its revenue come from diamond-studded jewellery

Given strong execution, analysts at Emkay Global Financial Services, too, remain confident of the high-teens earnings trajectory for Titan in the medium term

The quarter witnessed a strong festive consumer demand, Titan Company Managing Director C K Venkataraman said

The stock was trading at its lowest level since August 23, 2022 and has slipped 8% in the last eight trading days

In the past three months, the stock declined 9 per cent, as against 4 per cent rise in the S&P BSE Sensex.

The market sentiment got a boost from jobs and services data in the US, which hinted at a cooling economy prompting bullish bets from investors

Leading jewellery and watchmaker Titan has recorded 12 per cent growth in its standalone business in the December quarter, led by "healthy consumer demand" spurred by a vibrant festive season. "The positive consumer sentiment helped all categories clock healthy double-digit growths despite a high base in the same period of last year," as per the quarterly update by Titan for Q3 FY23. The Tata group firm also continued network expansion by adding 111 stores in October-December, taking the total number to 2,362 at the end of the quarter. During the quarter, Titan Jewellery, which generally contributes more than two-thirds of its revenue, achieved 11 per cent Y-O-Y growth. "Healthy new buyer growths in the festive period, higher-value purchases in the studded category and unique new collections for the season helped the division achieve an 11 per cent growth YoY (excluding bullion sales)," said Titan. Sales from the studded category moderately outpaced the gold jewellery (plain) segm

The company earned a profit of 8.57 billion Indian rupees ($103.95 million) in the three months ended Sept. 30 from 6.41 billion rupees in the previous year

CLOSING BELL: A late rally on Dalal Street helped the benchmark indices end a lacklustre trading session on a positive note. Metals, select financial shares led the pullback.

So far this month, PC Jeweller, Rajesh Exports and Kalyan Jewellers have rallied up to 21 per cent on hopes of a bumper sales this Diwali season.

Analysts remain fairly optimistic on jewellery players as softening gold prices and the ongoing festive season makes a case for sustained demand momentum going forward

India's expected surge of rich consumers is driving the jewelry unit of Indian conglomerate Tata Group to triple its Zoya-branded stores by 2027

After jewellery and eyewear, Titan looks for an encore in another large segment that is mostly a commodity play

The stock has always been highly valued with a current PE that's usually averaged around 45-50x

CLOSING BELL: The three-day IPO of Electronics Mart India was subscribed 62 times till 3:30 PM

Tata group firm Titan on Thursday said its overall sales grew 18 per cent year-on-year in the September quarter. The company, which operates in the segments as Jewellery, Watches & Wearables, and EyeCare has witnessed "healthy double-digit growth across most businesses," according to a quarterly update. Titan added 105 stores in its retail network in the second quarter of the current fiscal. "The company witnessed healthy double-digit growth across most businesses with overall sales growing 18 per cent YoY," Titan said. About the outlook for the festive season, the company said it continues to be "optimistic and is visible in positive consumer sentiment" across categories. During the September quarter, Titan's jewellery division, which contributes around 85 per cent of its revenue, grew "18 per cent YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid-disrupted Q1 FY22". The product-mix in the jewellery division improved compared to