Titan Comp at new high

Titan Company, which had closed on Friday at Rs.938.80, went to a record high of Rs.971.50.

The company had announced on Friday that it had a very good Q4. It stated in the Press Release that it expects Q4 jewellery retail sales growth in mid-teens.

The company said that  jewellery division did well on the back of very successful diamond jewellery activation and a more customer friendly revised gold exchange policy. The retails sales growth for the quarter was in mid-teens for the division.

The watches unit also did well, especially in the multi-brand retail formats as well as e-commerce. In the last financial year, e-commerce channel has grown disproportionately and is contributing to about 10% of the division's sales.

Titan sad that in FY18, watches and jewellery business scaled new heights in terms of revenue growth and profitability which is a result of market share gains in both businesses as well as the success of the cost control initiatives of the Company.