The Tata group company Titan’s margin fell short of expectations and analysts believe it is expected to remain under pressure in the near future amid competition.
Titan Share Price: Titan s shares plummeted by nearly 7% as it reported a 7% YoY increase in standalone net profit at Rs 786 crore. Despite a 17% YoY growth in net sales to Rs 10,047 crore and a dividend recommendation of Rs 11 per share for FY24, EBIT margins dipped.
Titan shares have outperformed the equity benchmark Sensex over the last year. Titan share price has gained about 29 per cent while the Sensex has gained about 21 per cent in the last one year.