Titan shares rise over 4% on Q4 46% consumer growth
Business
Titan shares jumped more than 4% on Wednesday morning after the company posted a strong Q4 update.
At ₹4,411.50 per share, Titan was one of the top gainers on the Nifty 50.
The main driver? A huge 46% year-over-year growth in its consumer businesses, especially jewelry.
Titan expands network to 3,603 stores
Titan saw nearly 48% higher same-store sales and more buyers walking in. They also added 47 stores, bringing their combined network to 3,603 stores.
While jewelry led the charge, CaratLane grew by 24%, eyecare by 16%, and watches saw a smaller bump at just 7%.
Brokerages like Citi and Goldman Sachs are optimistic: Goldman maintained its Buy rating with a target price of ₹5,000 after seeing all that jewelry growth.