Titan share price falls over 3% as Q1 jewellery business growth disappoints.

Titan share price falls over 3% as Q1 jewellery business growth disappoints:- Titan share price fell over 3% after its domestic jewellery operations disappointed with a growth of 8% YoY, impacted by weakness in consumer demand on account of a surge in gold prices and lower number of wedding days.

Titan share price declined over 2% in early Monday trade after the Tata Group company reported weak growth in the jewellery business during the first quarter of FY25, disappointing the street. Titan shares plunged as much as 3.46% to ₹3,156.15 apiece on the BSE, extending the fall for the fifth trading session.

Domestic growth came largely through increase in average selling prices whereas buyer growth was in low single digits, the company said.

EyeCare’s domestic business recorded a growth of 3% YoY, while the division’s foray into affordable fashion is aiding volume growth for the category.Titan Company added a total of 61 stores (net) during the June 2024 quarter expanding combined retail network presence to 3,096 stores.

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