Titan Q4 Review: Realtors Expect Covid-19 Limits To Affect Sales In The Short Term

Most analysts expect the new Covid-19 restrictions to close the sale of Titan Co. "Given the ongoing foreclosures / restrictions across India, we've lowered our earnings per share forecast for FY 22 by 12.2%," said Motilal Oswal in a report. Prabhudas Lilladher also said that the short-term outlook appears blurry, but is optimistic about the growth of the jewelry division. Brand owner Tanishq achieved sales of the main jewelry segment, which accounted for 88% of total sales, to Rs 6,678, up 71% year-on-year in the quarter ending March. CaratLane, who sells jewelry online and offline, ended the period with a pre-tax profit of Rs 10 crore. The net profit and income of the country's largest branded jewelery maker increased year on year, but the margin narrowed. Titan shares fell 2.4% each before losing losses against the 0.84% drop in the NSE Nifty 50 index to Rs 1,471 each. Of the 32 analysts who follow Titan, 16 suggest a "buy", 10 recommend a "hold", and six have a "sell" rating for the stock, according to Bloomberg data. Read more

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