Titan outshines post its quarterly update

The stock of Titan was quoting as much as 4 per cent after it announced its Q3FY19 business update, during Monday’s trading session. The third quarter is a seasonally strong quarter for the company, thus leading to good growth momentum across all its businesses. 

With respect to Titan’s jewellery division, the company continued to maintain its strong same-store sales growth in this quarter also and expects a full year growth of around 22 per cent. Jewellery division added almost 27 stores while 3 stores were closed which resulted in a net retail space addition of around 65,000 sq. ft. 
Speaking of the watches segment the company said that the segment would witness subdued EBIT margins owing to higher advertising spends. 

In terms of the frame distribution business, the segment is also going through good phase post commencement of frame manufacturing in the ongoing financial year, this manufacturing is likely to enable Titan to offer market-relevant products and to reach much deeper into the markets. 

At 14:57 hours, the stock of Titan was trading at Rs. 938.7 apiece, up by almost 1.1 per cent from its previous close.