Shares of Indian jeweller Titan Company rose as much as 5.7% to hit a record high on
Wednesday, after posting a 42% rise in quarterly domestic sales,
driven by higher average selling prices for gold and a rise in
buyer volumes.
Titan’s mainstay jewellery business, which accounts for over
90% of its revenue, grew 46% year-on-year, the company said in a
business update for the quarter ended March 31.
Spot gold prices rose nearly 8% during the quarter.
Broader markets are also higher on the day after U.S. President
Donald Trump agreed to a two-week ceasefire with Iran. Benchmark
Nifty 50 index was last up 3.5%.
The Bengaluru-based firm, known for its Tanishq and CaratLane
brands, reported robust growth as consumers in the world’s most
populous country splurged on gold.
Titan posted high-single-digit buyer growth during the quarter,
compared to nearly flat buyer growth in the previous three
quarters of FY26, the company said.
Meanwhile, the international business suffered significant
disruptions in the region in March due to the war in the Middle
East, the company added.
Sales of watches, Titan’s second-largest business, grew 7%
as premiumization trends contributed to an increase in ticket
size, the company said. Eyewear sales climbed 16% during the
quarter.