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Published
Sep 30, 2020
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Titan sees shares jump in value with festive growth expected

Published
Sep 30, 2020

Jewellery giant Titan has seen its shares increase in value by close to 23% in the quarter ending September 30, 2020. The business expects sales to rise further this festive season.

Titan expects jewellery sales to rise this festive season which could increase its share value yet more - Tanishq - Facebook

 
Titan’s shares increased in value by the greatest amount since December 2017 during the quarter just passed, ET Bureau reported. The jump in value comes at a time when gold prices have decreased in value for two months in a row (although they still remain comparatively high).
 
This positive trend is expected to continue for Titan as the festive season, an auspicious time to gift gold, is approaching. Most stores remain open and more shoppers are embracing e-commerce for fine jewellery. Investors betting on a continued recovery in demand ahead of the festive season has also aided its valuation.

“When gold prices go up, the inventory value goes up,” IDBI Capital Market Services Ltd’s head of research, A K Prabhakar, told Bloomberg, stating that this will help Titan’s profit margins to improve.

“So even if there is a 10% to 20% dip in revenue, their margins compensate in big numbers.”
 
Titan has also profited from the move towards the organisation of the Indian fine jewellery market.

With compulsory hallmarking soon coming into effect and many small businesses struggling financially due to lockdown, Titan, and other large jewellery businesses, could gain market share from these smaller entities. When large-scale weddings are permitted again, pent up wedding jewellery demand is also expected to drive sales. 

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