Titan mcap falls by Rs 22,528 crore in a day

Sandeep Singh

May 06,2024

What caused slump in Titan shares?

Titan staged a weak quarterly performance, triggering the sharp fall in its stock.

Top Sensex & Nifty loser 

The Tata group jewellery and watches maker's stock was the top loser in the Nifty and Sensex baskets on May 6. 

Titan market value falls 

The Tata group firm's market cap (mcap) contracted by Rs 22,527.6 crore to Rs 2,91,340.4 crore at the end of the session. 

Titan results

Titan logged a worse-than-expected 5% rise in consolidated PAT for the March quarter to Rs 771 crore.

What's worrying investors?

Titan's Q4 PAT missed estimates by 10-12 per cent owing to a 70-100 bps miss in its jewellery margin and a "higher subsidiary loss", according to Emkay Research.

What foreign brokerages say

JPMorgan maintained its 'overweight' rating on Titan after the earnings announcement but reduced its target for the stock by Rs 100 to Rs 3,850.

Morgan Stanley retains 'equal-weight'

The brokerage raised its target for Titan shares by Rs 236 to Rs 3,526.