After the release of its Q1 earnings, the itan Company Price fell more than 4% in early trading on Monday. The Q1 Results were released after market hours on Friday.

Titan’s share price on the NSE on Monday dropped to ₹3316 levels after opening at ₹3320.05, 4.1% less than its previous close of ₹3,462.35.

Tiran recorded a standalone net profit of ₹770 crore, which was only 1% lower than the same time previous year. In the first quarter, revenue from operations increased by nearly 9% to Rs11,263 crore.

Increased gold prices stopped demand in its primary jewellery sector, resulting in reduced net profit growth for Titan Company.

As of 10:24 am, Titan Shares were trading 0.45% lower at ₹3,446.70 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Tata Group’s Titan Company Ltd. shares rose as much as 3% after Finance Minister Nirmala Sitharaman announced a cut in customs tax on gold, silver and platinum.

During her budget speech on Tuesday, the Finance Minister announced that the customs duty on gold and silver will be reduced from 15% to 6%.

Customs duty on platinum has also been reduced to 6.4% from 15.4% previously.

In October 2022, the customs duty on platinum was increased from 10.75% to 15.4%, while in July 2022, the gold was increased to 15%.

Titan’s primary business is jewellery, from which the majority of the company’s revenue is generated.

As of 1:57 pm, Titan shares were trading 5.63 % higher at Rs 3,437.70.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Titan Company shares fell almost 4% today, July 8, after brokerage JPMorgan cut the stock from an “overweight” rating to “neutral” in response to the Tata group company’s June quarter business report.

The international brokerage cut its target price on Titan from ₹3,850 to ₹3,450 after the company’s jewellery business reported a 9% increase in revenue for the June quarter. As per JPMorgan, this was below already lowered expectations.

Titan stated that the disappointing business update was caused by low wedding days, high gold prices and subdued consumer demand, all of which had an effect on overall growth.

As of 2:49 PM, Titan shares were trading 3.65% lower at ₹3150.00.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.