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Titan counts on stabilising gold prices to drive jewellery growth; margin guidance at 11 pc

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Titan counts on stabilising gold prices to drive jewellery growth; margin guidance at 11 pc

Titan counts on stabilising gold prices to drive jewellery growth; margin guidance at 11 pc

"If gold prices remain corrected and stable, the chances are we will see many more customers coming into the market, especially those who had stayed away," Titan Managing Director Ajoy Chawla told analysts after the company's September quarter results.

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New Delhi, Titan expects a correction and stabilisation in gold prices to bring back consumers who postponed purchases amid elevated prices, as the company seeks higher customer acquisition to sustain growth in its branded jewellery business.

The leading jewellery maker, which has brands such as Tanishq, Mia and Zoya under its fold, has put a margin guidance at around 11 per cent for the current fiscal year, the company's top management said in the latest earnings call.

"If gold prices remain corrected and stable, the chances are we will see many more customers coming into the market, especially those who had stayed away," Titan Managing Director Ajoy Chawla told analysts after the company's September quarter results.

In October, gold prices saw a sharp correction of around Rs 7,300 per 10 grams, falling from Rs 1,49,300 per 10 grams on September 30 to around Rs 1,42,000 by the end of the month, a drop of nearly 5 per cent.

45 lakh per 10 grams in the national capital.



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