Last Updated:July 08, 2025, 12:09 IST
Rekha Jhunjhunwala’s stake drops to Rs 15,842 crore after Titan’s stock declines 5.52% to a low of Rs 3,464.40, dragging its market capitalisation to Rs 3,07,618 crore.
Rekha Jhunjhunwala currently holds a 5.15% stake in Titan Company Ltd. (File Photo)
Rekha Jhunjhunwala, who holds a 5.15% stake in Titan Company Ltd, suffered a notional loss of around Rs 900 crore on Tuesday morning after the Tata group firm’s June quarter business update fell short of market expectations.
Rekha Jhunjhunwala’s stake, valued at Rs 15,989 crore on Monday, dropped to Rs 15,842 crore after Titan’s stock declined 5.52% to a low of Rs 3,464.40, dragging its market capitalisation to Rs 3,07,618 crore.
JM Financial in its note on Tuesday projected an 18% YoY growth in standalone revenue for Q1, led by the jewellery segment, with EBIT margin at 11% (excluding bullion), 20 bps lower YoY. It estimated EBITDA and PAT growth at 20% and 19%, respectively.
Emkay Global said, “Despite a low base (heatwaves/elections) and significant gold price inflation, growth in Q1 has moderated against prevailing trends of 15-20 per cent SSG.”
It further noted that “buyer growth is flat across both Tanishq and CaratLane, likely impacted by the significant gold price inflation, expansion of existing players, and entry of new players (Indriya) in select pockets.”
It also observed that “high-margin studded sales (low double-digits) are also under pressure”, despite usually faring better when gold prices rise. Emkay set a target of Rs 3,350 on the stock, cautioning, “expectations of a recovery now need to be weighed against a strong base, which had a big customs duty-cut related pick-up in Q2/Q3FY25″.
Motilal Oswal Financial Services (MOFSL) maintained a ‘Buy’ rating with a target price of Rs 4,250. While Titan’s domestic jewellery revenue rose 18% YoY (ex-bullion), it fell short of the expected 22% due to volatile gold prices dampening consumer sentiment. MOFSL said, “Like-for-like (LFL) domestic growth for Tanishq, Mia, and Zoya (TMZ) remained in low double digits, driven by ticket size growth across formats.”
Titan added 19 net new stores in India — three in Tanishq, seven in Mia, and nine in CaratLane. The domestic watches segment recorded a 23% YoY growth, driven by strong analog sales, while the eyewear division rose 12% YoY.
For Titan, higher prices of gold in the recent months led to a growth of low double digits percentage in like-to-like domestic sales across its brands Tanishq, Mia and Zoya, the company said.
Its watches business, the second largest by revenue, clocked a sales growth of 23%, driven by higher prices and volumes, Titan said.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso… Read More
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