Titan clocking gains

Titan is clocking some good times on the bourses today. The stock, which had closed yesterday at Rs.2146.80, opened higher at Rs.2222.85 and went on to hit a new high at Rs.2355.95 and currently trades around same levels.

The company published its business update for Q2FY22. The company witnessed strong recovery in demand after the second wave across its consumer businesses with sales moving swiftly above or close to pre-pandemic levels in most of the divisions. Most stores are now fully operational barring few in select towns having localized restrictions, with overall store operation days exceeding 90% for the quarter.

In terms of revenue growth: (YoY)

Jewellery – 78%

Watches and wearables – 73%

Eye wear – 74%

Other Business – 121%