Titan gets a downgrade as street turns cautious post Q1 business update

Titan gets a downgrade as street turns cautious post Q1 business update

Brokerage firm JPMorgan downgraded Titan Co. Ltd. to “neutral” from its earlier rating of “overweight,” after the company’s June quarter business updated reported last Friday. The brokerage also cut its price target to ₹3,450 from ₹3,850 earlier. After eight quarters of being in-line or better than expectations, Titan’s jewellery business revenue growth of 9% in …

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