Shares of jewelery and watch retailer – Titan Company – rose 4.61 percent to hit a high of Rs 1,352 on the BSE in a 52-week high, with the company reporting that its jewelery business continued the festive season despite the ongoing Kovid-19 Has registered an increase in Ubiquitous epidemic.(See Track Titan Company share price here)
In a note to the stock exchanges, the Bengaluru-based company said, “Titan Company saw good traction across all its businesses in the festive season. The jewelery business saw mid-teen growth (around 15%) for the 30-day festive season. Previous Sal Diwali to Dussehra, with a good recovery in jewelery jewelery sales. Watches and wearables also performed well in the festive season, with a recovery close to last year. The eyewear business has also gained good traction. “
In the quarter ended September 2020, Titan Company reported an 89 percent decline in sales due to a sharp recovery in the jewelery division, a significant disruption in the first quarter of the fiscal year due to the Kovid 19 epidemic in India.
Total income for the quarter was Rs 4,389 crore, with gold bullion sales of Rs 391 crore, resulting in a decline of less than 2 percent compared to income of Rs 4,466 crore in the same quarter last year. .
Shares of Titan Company have fallen 88 percent from a low of Rs 720 on 24 March, when the government announced a nationwide lockout to prevent the spread of the Kovid-19 epidemic.
As of 12:11 pm, the Sensex was trading up 3.51 percent at Rs 1,338, an increase of 0.13 percent from the Sensex.