Titan shares drop 4% after JPMorgan downgrade due to weak Q1 update

From Hindustan Times: 2024-07-08 00:52:31

Shares of Titan Company dropped nearly 4% after JPMorgan downgraded the stock to ‘neutral’ from ‘overweight’. Titan’s jewelry business saw only a 9% revenue growth in the June quarter, falling short of expectations due to high gold prices and subdued consumer demand. CLSA maintained an “outperform” rating, while Goldman Sachs called the update “disappointing” but still recommended buying.



Read more at Hindustan Times: Titan shares fall 4% over weak Q1 update, JPMorgan downgrades stock