Titan Company shares plunged nearly 11 percent intraday on July 9 after the company reported a slowdown in its jewellery business in Junequarter. Consequently, Global brokerage Credit Suisse also downgraded the stock to neutral.
Its revenue in the quarter ended June 2019 grew a muted 13 percent as a sharp increase in gold prices dented consumer demand significantly. Jewellery business contributed 82 percent to total revenue in FY19.
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