Aggressive expansion, higher demand to drive more gains for Titan

Firm's high-margin jewellery Q1 sales were comparable to pre-Covid-19 levels

The stock of the country’s largest jewellery maker by market capitalisation, Titan, was up 5.7 per cent after it posted a better than expected June quarter performance.

On a low base, jewellery sales for the company more than tripled in what it described as the first near-normal quarter after a gap of two years. The 207 per cent growth was aided by strong sales on Akshaya Tritiya in May.

While plain gold jewellery sales were up nearly three times, the performance of the higher-margin studded jewellery segment too was better than what it was a year ago and, also comparable to pre-Covid-19