Titan, the renowned Tata Group firm, began the trading day on January 8 with an upward trajectory, propelled by the positive sentiments following its impressive business update for the December quarter. Notably, the Jewellery business emerged as a star performer, registering a remarkable 23% year-on-year growth in Q3 business update.
This substantial growth was fueled by a double-digit surge in the number of buyers and a moderate improvement in average selling prices. The festive quarter witnessed a robust expansion in Titan’s retail network, with the addition of 90 outlets, elevating the company’s overall presence to an impressive 2,949 stores.
Beyond the flourishing Jewellery segment, Titan’s watches and wearables business also posted commendable results, experiencing a noteworthy 21% year-on-year growth. The company’s strategic focus on expanding its product offerings and maintaining a strong retail footprint appears to be yielding positive outcomes.
In terms of consumer preferences, the growth in gold (plain) and coins outpaced studded sales, indicating heightened consumer interest in gold despite price fluctuations and market volatility. This positive trend underscores Titan’s ability to navigate challenges and resonate with consumer sentiments effectively.
As the clock struck 11:00 am, Titan’s shares continued their upward trajectory, trading 0.15% higher at ₹3,718.05. The market’s response to Titan’s Q3 performance reflects investor confidence in the company’s resilience and strategic initiatives.
