Titan Co. shares fell 4% after Q1FY25 jewelry domestic operations grew 8% YoY, causing JPMorgan to downgrade the company to "neutral" with a reduced price target.
Titan Company shares fell 4% after the firm reported disappointing growth in its jewelry business for Q1 of FY25, with Q1FY25 jewellery domestic operations growing around 8% YoY. High gold prices and low wedding days led to subdued consumer demand, causing a decrease in the company's revenue growth. As a result, brokerage firm JPMorgan downgraded Titan Co. Ltd. to "neutral" from "overweight" and reduced its price target to Rs 3,450 from Rs 3,850.
July 08, 2024
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