Titan Company extends rally, surges 8% on robust sales in June quarter

The company said jewellery division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after 2 years of Covid induced lockdowns in this period

Shares of Titan Company surged 8 per cent to Rs 2,170.95 on the BSE in Thursday's intra-day trade after the company said its total sales in the first quarter of fiscal 2022-23 (Q1FY23) grew 205 per cent year-on-year (YoY) led by strong wedding demand and a low base.

Further, the revenue came in at 3-year CAGR of 20.5 per cent over Q1FY20. The business in April-June 2022 was near normal after a gap of two years, the company said.

The stock has rallied 11 per cent in the past two trading days, and 19 per cent from its