Titan, Kalyan Jewellers in focus after strong Q2 business update; Macquaries maintains outperform on Titan

Titan and Kalyan Jewellers volition beryllium successful absorption aft their beardown Q2 concern update. Tata Group's watch-to-jewellery institution Titan posted 25 per cent on-year maturation connected a standalone ground successful the September quarter. The institution said that during the reappraisal period, the jewelry concern posted 26 per cent, watches 19 per cent and the eyecare conception posted 6 per cent.

Meanwhile, the company's emerging concern clocked 14 per cent maturation on-year.

The company's acquired entity Caratlane besides posted 28 per cent maturation successful the reappraisal play year-on-year (YoY).

"The Company (standalone) registered a maturation of 25% YoY successful O2FY25. A full of 75 stores (net) were added during the 4th expanding Titan's combined retail web beingness to 3,171 stores," added the company's filing.

Titan's banal successful the erstwhile league ended higher by 0.5 per cent astatine Rs 3,692 per share. The banal successful the past 1 twelvemonth has delivered conscionable 11 per cent return.

Brokerage calls connected the banal aft Q2 concern update

Citi has maintained its 'neutral' standing connected the banal with the people pegged astatine Rs 4,110, implying imaginable gains of implicit 11 per cent. The brokerage said that investors should ticker retired for borderline trajectory. Also it believes that the diminution successful solitaire sales/studded premix is apt owed to uncertainty astir store worth to the proposition of diamonds. Further, the jewellery retailer large is presently seeing an situation wherein golden terms is soaring whereas diamond terms are declining. Likewise, Citi envisages a semipermanent interaction of laboratory grown diamonds.

Macquarie, meanwhile, has maintained its outperform telephone connected the banal with a akin people of Rs 4,100. The brokerage held that the company's reported amended income up of estimates. As per the brokerage better-than-expected jewellery sales and steadfast income maturation for watches offset weakness successful eyewear and different segments.

Macquarie expects 9 per cent standalone EBITDA maturation successful Q2.

Caratlane बिजेनेस में 28% का ग्रोथ (YoY) 
++ 
Kalyan Jewellers  
मजबूत Q2 अपडेट   
Q2 में कंसो रेवेन्यू ग्रोथ 37% (YoY) 
भारतीय कारोबार में 39% की रेवेन्यू ग्रोथ (YoY) 
मिडिल-ईस्ट में 24% की रेवेन्यू ग्रोथ (YoY)