The Jhunjhunwala family saw their fortunes fall by more than Rs 900 crore within mere minutes as Titan Company shares tumbled more than 6% on Tuesday. Shares of the Tata Group firm had dropped 6.17% to Rs 3,440.60 on the BSE after its first quarter business update failed to cheer investors. Rekha Jhunjhunwala is believed to own a 5.15% stake in the company — part of a 27 portfolio worth more than Rs. 62,801 crore.
The stock emerged as the biggest laggard among the Sensex and Nifty firms on Tuesday — with market valuation eroding by Rs 20,086.15 crore. The selloff also comes days after another high-PE Tata stock (Trent) disappointed investors with lower-than-expected revenue growth.
The jewellery and watchmaking brand reported a 20% growth in its standalone revenue in the June quarter of FY26. Its jewellery division (which contributes over 80% of its revenue) reported an 18% growth on a year-on-year basis. The company said that “gold price volatility” had affected consumer sentiments and noted that “buyer growth was flat” for its flagship brands Tanishq, Mia and Zoa.
Gold prices have risen over the past two quarters, as investors sought refuge in the safe haven amid US President Donald Trump’s shifting trade policies and tensions in the Middle East. Prices for the yellow metal have risen nearly 35% in Q1FY26 and weighed heavily on consumer sentiment during the first quarter of 2025.
“In the high gold rate scenario, customers preferred light-weight and lower karatage jewellery. The studded ratio came in lower YoY, driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits…The like-to-like domestic sales growth in TMZ was in early double digits, driven entirely by ticket size growth across formats,” it said on Monday.
(With inputs from agencies)