Titan shares end over 1 pc higher after company's quarterly update

New Delhi: Shares of Titan Company Ltd on Friday ended more than 1 per cent higher after the firm posted a 20 per cent year-on-year growth in revenue in the first quarter of FY24.

The stock of the company gained 1.26 per cent to end at Rs 3,144.75 apiece on the BSE. On the NSE, it rose 1.21 per cent to close at Rs 3,144 per share. During the day, it touched a 52-week high on both the bourses of Rs 3,211.10 on the BSE and Rs 3,210 on NSE. In volume terms, 1.27 lakh shares of the firm were traded on the BSE and over 36.30 lakh shares on the NSE. The 30-share BSE Sensex benchmark ended 505.19 points or 0.77 per cent lower at 65,280.45 points on Friday.

On Thursday, Titan Company Ltd (TCL) posted a 20 per cent year-on-year growth in revenue for the first quarter of FY24 with all key consumer business exhibiting double digit growth during the period. It's jewellery division rose 21 per cent year-on-year in the first quarter as the buyer growth was higher than average ticket size growth for this period. Despite significant volatility in gold prices throughout the period, Akshaya Tritiya sales in April and wedding purchases in June were robust, the company said in a regulatory filing.

Also, Titan's watches and wearable unit witnessed a 13 per cent year-on-year growth comprising 8 per cent growth in analog watches segment and 84 per cent year-on-year growth in wearables, the company added