Business news · Corporate · 07 Oct 2026
Titan's September-quarter update showed its consumer businesses growing 25% from a year earlier, with domestic jewellery up 21%, watches 30%, eyecare 28%, CaratLane 32% and international sales 97%. Analysts had looked for 25-27% in jewellery; buyer numbers grew only in mid-single digits while ticket sizes rose in double digits. The stock dropped as low as Rs 4,335.60 on the NSE, down about 4.7%. Kalyan Jewellers, which reported 26% consolidated revenue growth and roughly 20% same-store growth, rose about 2%.
Both updates describe the same market: record gold prices are lifting the value of each sale while fewer new buyers come in, and part of this year's festive demand falls in the December quarter. For listed jewellers that makes revenue growth depend on price rather than volume, and weaker gold-coin sales remove a low-margin but steady line. The reaction in Titan was to a shortfall against estimates, not a decline in sales; the numbers are business updates, and full results with margins come later in the month.
Reported by Upstox — “Titan shares slide 5% after Q2 update; festive shift, high gold prices weigh on jewellery growth” ↗ on 07 Oct 2026.
NSE stocks, from the last close on or before 07 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Consumer Durables | 46 | +0.0% | 23 of 46 | +0.9 pts |
| All tracked stocks | 804 | -0.9% | 321 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Kalyan Jewellers India Ltd. KALYANKJIL | ₹569 | ₹558 | -1.9% |
| Titan Company Ltd. TITAN | ₹4,377 | ₹4,444.8 | +1.5% |
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