Downgrades, competition likely to keep Titan Company’s stock under pressure | Stock Market Today

Titan Company released a disappointing pre-quarter Q1FY25 business update which has led to downgrades. Kalyan Jewellers, a key rival of Titan, did better going by its business update for Q1FY25. Analysts also pointed out that there will be increased competition in the space with the advent of Aditya Birla Group.

Titan reported sales growth of about 9 per cent Y-o-Y in Q1FY25. It added 61 stores during the quarter and its total retail presence (including CaratLane) stood at 3,096 stores at the end of Q1FY25. The domestic jewellery division grew 8 per cent Y-o-Y (ex-bullion) in Q1FY25