Titan sheds over 4% after weak Q1 earnings; global brokerages revise ratings on weak demand outlook
Updated : August 11, 2020 10:37 AM IST
Titan shares dropped over 3 percent in the early morning trade on Tuesday after the company reported a weak set of numbers for the quarter ended June hit by the coronavirus-induced lockdown.
Titan Company reported a standalone net loss of Rs 270 crore in the first quarter of fiscal 2021 as against a net profit of Rs 371 crore in the year-ago period.
Goldman Sachs maintained Sell call on Titan with a target price at Rs 705 per share as the company reported sales 4 percent below its estimate.