TITAN

** Indian jeweller and watchmaker Titan Company TITN.NS posts 52.5% y/y jump in Q1 profit, benefiting from higher gold prices; revenue up 21%

** At least seven analysts raise PT; median PT at 3,888 rupees vs 3,876 rupees a month ago

** TITN trading flat at 3,437 rupees

JEWELLERY GROWTH MODERATION AMID GOLD'S SURGE

** Emkay ("Reduce"; PT at 3,350 rupees) says jewellery growth may soften in FY26 amid soaring gold prices, intense competition, high base

** Ambit ("Sell"; raises PT to 3,357 rupees from 3,219 rupees) sees high base, gold price inflation curbing growth for rest of FY26

** Antique ("Buy"; raises PT to 4,615 rupees from 4,195 rupees) optimistic about co's medium-to-long term, citing market share gains from brand strength, execution, store expansion

** AMSEC Research ("Buy"; PT: 4,285 rupees - 25% upside) says focus on premiumisation, channel expansion, brand investments to help compound value at double-digit rates in long-term

(Reporting by Yagnoseni Das in Bengaluru)

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** Indian jewelry and watchmaker Titan Company TITN.NS trading 0.5% lower at 3399.60 rupees in a weak broader market after the U.S. hiked tariffs on India to 50% .BO

** Four analysts expect the company to report a nearly 30% rise in consolidated profit after tax as high gold prices raise average ticket values

** Titan's domestic revenue rose 19% y/y in Q1, the company said in a business update

** Its jewelry business, which contributes almost 90% to the topline, grew 18% y/y but missed analysts' expectations, as consumers traded down to cheaper, lower carat jewelry amid higher prices

** Brokerage Emkay flags a weaker revenue mix, with higher growth in low-margin investment-grade coins and lower growth in high-margin studded and plain-gold jewelry amid higher gold prices

(Reporting by Ananta Agarwal in Bengaluru)

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By Luke Tyson

DUBAI, Aug 5 (Reuters) - India's biggest jeweller and watchmaker Titan TITN.NS is exploring shifting some manufacturing to the Middle East Gulf to maintain low-tariff access to U.S. markets amid trade tensions between Washington and New Delhi, Managing Director C.K. Venkataraman said on Tuesday.

Titan, part of the Tata Group conglomerate, announced this month plans to acquire a majority stake in Dubai-based luxury retailer Damas, which operates 146 stores across the Gulf. In light of the deal, valued at $283 million, Venkataraman told Reuters the region is being considered “as a manufacturing base to export to the U.S.”

His comments reflect how global companies may seek new routes to navigate trade barriers, as the U.S. levies or threatens tariffs on international trade partners.

Last month, U.S. President Donald Trump slapped a surprise 25% tariff on imports from India and threatened further hikes this week over India’s purchases of Russian oil.

In contrast, the United Arab Emirates faces a 10% tariff under Trump’s baseline rate.

Titan’s Tanishq brand has several U.S. stores and is planning a major expansion, while its diamond-focused label CaratLane launched in the U.S. in October, the company said.

Titan began talks to buy Damas in 2024, before U.S. trade policy shifts came into focus. Shifting some manufacturing to a Gulf Cooperation Council country would be a way to mitigate recent rises in U.S. tariffs, Venkataraman said in a video call with Reuters.

The U.S. is a less feasible manufacturing base due to cost and skills constraints, especially for artisan-made jewellery, he said.

"If the tariffs remain like what they are currently threatened to be, then any arbitrage on a tariff ... any significant arbitrage would be meaningful for us to consider," Venkataraman said.

(Reporting by Luke Tyson; Editing by Susan Fenton)

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** India's Titan Company TITN.NS will acquire 67% stake in Dubai-based Damas from Qatar's Mannai Corporation MCCS.QA

** Deal at enterprise value of 1.04 billion UAE dirham ($283 million)

** TITN 0.4% higher vs Nifty 50's .NSEI 0.1% climb

** JP Morgan says TITN "eyeing wider overseas footprint"

** Given TITN's track record of CaratLane acquisition and scaling it, investors may see this deal as a positive - Citi

** Deal to give TITN, which has about seven stores in UAE, access to Damas' 146 stores across GCC

** Acquisition will help expansion, targetting nationalities and ethnicities other than Indian diaspora - Morgan Stanley

** Avg rating of 30 analysts at "buy"; median PT is 3,876 rupees - data compiled by LSEG

** TITN extends YTD gains to 6%

($1 = 3.6721 UAE dirham)

(Reporting by Kashish Tandon in Bengaluru)

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Corrects paragraph 1 and headline to say Titan is buying Damas stake at "enterprise value of $283 million", not "for $283 million"

July 21 (Reuters) - Indian jeweller Titan Company TITN.NS said on Monday it would acquire a 67% stake in Dubai-based luxury jewellery retailer Damas at an enterprise value of 1.04 billion UAE dirham ($283.2 million), as it expands its presence in the Middle East.

($1 = 3.6727 UAE dirham)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of Titan Company Ltd TITN.NS fall as much as 5% to 3,483.2 rupees

** Jewellery maker's domestic sales rose 19% in Q1 led by higher gold prices, up from 9.3% growth a year ago

** Morgan Stanley says big miss on jewellery growth, as they estimated 28% growth y/y for Q1; gold price volatility led to softening consumer purchases between May, mid-June

** CLSA says domestic ops saw flattish buyer growth and double digit ticket size growth; growth below expectations especially in context of more wedding dates y/y

** Macquarie says jewellery growth continues to lag peers

** Mean rating of stock is 'buy'; their median PT is 3,830 rupees - data compiled by LSEG

** TITN last down 4.5%, stock biggest intra-day pct loser on the Nifty 50 index .NSEI

(Reporting by Meenakshi Maidas in Bengaluru)

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July 7 (Reuters) - Jewellery and watchmaker Titan Company TITN.NS said in a business update on Monday that its domestic business sales grew by 19% in the first quarter of fiscal 2026.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Sonia Cheema)

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June 27 (Reuters) - Titan Company Ltd TITN.NS:

• TITAN CO - REMAINS CONFIDENT IN LONG-TERM GROWTH TRAJECTORY OF BUSINESSES FOR FY 2025-26

• TITAN CO - GLOBAL MACROECONOMIC UNCERTAINTIES AND GEOPOLITICAL TENSIONS MAY PERSIST FOR FY 2025-26

Source text: ID:nBSE24LGFy

Further company coverage: TITN.NS

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By Praveen Paramasivam

June 9 (Reuters) - Titan Company's TITN.NS CaratLane aims to surpass last financial year's revenue growth, as younger Indians warm up to lower-carat jewellery and the brand plans to open more stores, its top boss told Reuters.

Brands selling lower-carat jewellery, including CaratLane and Kalyan Jewellers' KALN.NS Candere, are rapidly expanding as younger Indians increasingly buy such pieces for adornment in a country that traditionally views jewellery as an investment.

Around Valentine's Day this year, CaratLane launched 9-carat jewellery in a country that mainly buys 22-carat gold.

Candere plans to open 80 stores in India in the year that started April 1, matching the number of higher-priced Kalyan locations planned for the same period, while larger-sized CaratLane aims to open more than 40 outlets, mostly in smaller cities.

As of end-March, CaratLane had 322 stores, making it the second-largest jewellery brand by store count within the Tata Group. The brand contributes about 6% to Titan's overall revenue.

"Overall growth (in fiscal 2026) ... will be no less than what we have done last year," CaratLane Managing Director Saumen Bhaumik said in an interview after market hours on Friday.

In the year ended March 31, CaratLane's topline jumped 24% to 35.83 billion rupees ($418.96 million), with earnings before interest and taxes at 2.96 billion rupees, helping the brand record its best year.

Profit for the nascent financial year "is going to be significantly better", Bhaumik said.

In recent months, while soaring gold prices have led many Indians to opt for lightweight, lower-carat jewellery to stay within budget, Bhaumik said CaratLane's average bill value has still inched up by a tenth, aided by new launches.

CaratLane plans to open a second U.S. store in Dallas by the festival of Deepavali this year and two Dubai outlets within eight months.

($1 = 85.5210 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Rashmi Aich)

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May 9 (Reuters) - ** Indian watchmaker and jeweler Titan TITN.NS posted higher fourth-quarter profit on Thursday, led by strong demand for premium jewellery and gold coins

** Stock jumped 4.1% to 3,507 rupees and was top gainer on benchmark Nifty 50 .NSEI which was trading 0.9% lower

A GOOD OUTCOME

** Jefferies ("hold", PT: 3,340.30 rupees) called TITN's results a "good outcome," adding that buyer growth was strong for products in the higher price band

** Goldman Sachs ("buy", PT: 4,100 rupees) says TITN is responding to consumer behavior in the face of steep gold inflation

** Macquarie ("outperform", PT: 4,000 rupees) says TITN's 11.9% margin delivery in jewelry business is an "affirmation" of its ability to balance headwinds in the segment

** Brokerage adds that it liked TITN's increased confidence on sales of studded jewelry which were buoyed by growth in number of buyers

(Reporting by Kashish Tandon in Bengaluru)

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May 8 (Reuters) - Titan Company Ltd TITN.NS:

• Q4 CONSOL PROFIT 8.71 BILLION RUPEES; IBES EST. 12.20 BILLION RUPEES

• DIVIDEND 11 RUPEES PER SHARE

• Q4 CONSOL SALE OF PRODUCTS 138.97 BLN RUPEES

Further company coverage: TITN.NS

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By Rajendra Jadhav

MUMBAI, April 30 (Reuters) - Gold demand remained lower than normal on Wednesday during an Indian festival when buying gold is considered auspicious as the rally in prices to a record high prompted retail consumers to reduce purchases.

Indians were celebrating Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras.

"Footfalls in jewellery stores improved from evening but still in volume terms demand was around 15% lower than normal," Surendra Mehta, secretary at the India Bullion and Jewellers Association (IBJA).

Big retail chains, which were offering discounts on jewellery making charges, were doing comparatively better business than single-store retailers, as near-record high prices stretched consumers' budgets, Mehta said.

Domestic gold prices MAUc1 hit a record high of 99,358 rupees per 10 grams this month and were around 95,000 rupees on Wednesday, nearly 30% higher since the last Akshaya Tritiya festival.

Despite record-high gold prices, positive consumer sentiment persists, with many exchanging old jewellery for new to manage budgets for festivals and weddings, said Saurabh Gadgil, chairman of PNG Jewellers PNGD.NS.

Indian dealers on Wednesday offered a discount XAU-IN-PREM up to $20 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies.

Gold demand during Akshaya Tritiya was likely lower in volume but could be the same or slightly higher in value, said Sachin Jain, CEO of the World Gold Council's Indian operations.

Big and small retailers were offering discounts on jewellery making charges to lure retail buyers. However, many still preferred to buy coins and bars for investment purposes, said a Hyderabad-based jeweller.

"Demand was lower than usual, but still better than what the industry expected. Even with record-high prices, retail buying didn't take a big hit," said IBJA's Mehta.

(Reporting by Rajendra Jadhav, editing by Ed Osmond)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

April 8 (Reuters) - Shares of Indian jeweller and watchmaker Titan Company TITN.NS rose about 5% on Tuesday, set for their best day since July 2024, after the company said it expects a 25% rise in its fourth-quarter standalone revenue.

The revenue growth, higher than the same period a year ago, was propelled by a record rally in gold prices, as investors fled to safety amid high geopolitical tensions and escalating economic uncertainty due to U.S. tariff policy.

The company's jewellery business accounts for a majority of the overall revenue. The rise in revenues in the January-to-March quarter was led by "high double-digit growth" in higher price band jewellery, said the company.

Higher gold prices did not deter affluent Indians from splurging on ornaments for weddings and accumulating gold as a form of investment.

The shares rose to 3,185.75 rupees in Mumbai as of 9:30 a.m. IST. The benchmark Nifty 50 index .NSEI was up 1.7%.

Analysts rate Titan 'buy' on average, according to data compiled by LSEG, similar to peers.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)

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April 7 (Reuters) - Titan Company Ltd TITN.NS:

• REGISTERS 25% YOY GROWTH FOR Q4 FY25

Source text: ID:nBSE2WJDnR

Further company coverage: TITN.NS

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** Brokerage Macquarie calls Titan TITN.NS its preferred pick in Indian consumer space

** TITN down 1.7% on the day amid weak broader markets .BO

** U.S. President Donald Trump's tariff plans have spurred demand for physical gold in U.S. and have resulted in higher gold lease costs - Macquarie

** TITN to have a competitive edge as gold lease costs lower for co vs smaller rivals, says Macquarie

** Adds, brokerage "gains comfort" in TITN's willingness to enter the lab-grown diamonds space once adoption picks up

** Avg rating on TITN at "buy", median PT at 3,854.50 rupees - data compiled by LSEG

** Stock down 7% YTD vs benchmark Nifty 50's .NSEI 6.7% decline

(Reporting by Kashish Tandon in Bengaluru)

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By Praveen Paramasivam

Feb 25 (Reuters) - Titan TITN.NS forecast revenue growth of up to 20% for its mainstay jewellery business in the next financial year, driven by demand from affluent Indians, but flagged risks to margins from rallying gold prices.

Higher gold prices have not deterred affluent Indians from splurging on ornaments for weddings and accumulating gold as a form of investment, even as the middle class has reined in spending on discretionary items.

Titan's jewellery business, accounting for nearly 90% of its total revenue, would grow in the mid-teen percentage range to 20% in the year beginning April 1, the group's Chief Financial Officer Ashok Sonthalia told Reuters on Monday.

The segment posted a 20.2% growth last year and 20.4% in the nine months ended December 31.

Titan gets a bulk of its revenue from affluent Indians, whose purchasing power and inclination to indulge is largely unaffected by inflation and higher interest rates, Sonthalia said.

However, a rally in benchmark gold prices XAU= is posing a threat to Titan's plans to achieve its core earnings margin forecast of between 11% and 11.5%.

"If gold prices keep going up like this (and) it doesn't normalize ... 11%-11.5% may be difficult," Sonthalia said.

Spot gold rose about 27% in 2024 and looks set for a record-breaking 2025 as heightened economic uncertainty and inflation concern under U.S. President Donald Trump's second term boost demand.

Titan had said earlier that surging prices of gold were prompting more customers to buy coins - which are less profitable for Titan - as a form of investment.

In the quarter ended December 31, core earnings margin in its jewellery business shrank 100 basis points to 11.2%.

For the broader group, Sonthalia forecast current-quarter revenue growth in the double-digit percentage range.

($1 = 86.7550 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)

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By Rajendra Jadhav

MUMBAI, Feb 11 (Reuters) - Gold leasing rates in India have doubled within a month to a record high, following the overseas market, where rates jumped due to a supply crunch as global banks divert the precious metal to the United States, industry officials told Reuters.

Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan TITN.NS, Kalyan Jewellers KALN.NS, and Tribhovandas Bhimji Zaveri TBZL.NS.

Gold leasing rates, which traditionally hover around 1.5% to 3%, have more than doubled in a month and could rise further, Shekhar Bhandari, president and business head of Kotak Mahindra Bank KTKM.NS told Reuters.

"Given the geopolitical uncertainty, trade war, and benefit arising out of higher futures prices on CME as compared to spot, it seems leasing rates will remain elevated for the next few months," he said.

Global bullion banks are flying gold into the United States from London, Switzerland, and Asian hubs such as Dubai and Hong Kong to capitalise on the unusually high premium of U.S. gold futures GCcv1 over spot prices XAU=, Reuters has reported.

The rush to move gold to the United States has lifted gold leasing rates in London, the world's key over-the-counter (OTC) market.

Banks in import-dependent India borrow gold from overseas banks and lend to jewellers. Rising borrowing costs have proportionally increased leasing rates in India, Bhandari said.

"Jewellers were caught off-guard by the leasing rate shooting up to a record high," said Amit Modak, chief executive of PN Gadgil and Sons, a jeweller based in the western city of Pune. "Now they're clueless about how to handle it."

Bullion-supplying banks were not bringing gold into India in recent weeks since the market is in discount, while deliveries on COMEX fetch premium, a Mumbai-based dealer with a bullion importing bank said.

The premium on COMEX futures over spot prices widened again to about $28 per ounce on Monday, compared with discounts as high as $24 in India.

Vaults in key Indian cities storing gold imported by bullion banks are nearly empty, as banks have moved gold to the United States and are not interested in bringing it to India given the discounts, said another Mumbai-based dealer with a bank.

"Indian discounts could have risen above $100 due to negligible demand. But a supply crunch is keeping them from sky-rocketing," he said.

(Reporting by Rajendra Jadhav; Additional reporting by Siddhi Nayak; Editing by Clarence Fernandez)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

Feb 5 (Reuters) - Titan Company Ltd TITN.NS:

• TITAN EXEC: DIFFICULT TO PREDICT Q4 GROWTH DUE TO GOLD PRICE VOLATILITY

• TITAN EXEC: HOPE TO SUSTAIN SOME GROWTH SEEN DURING Q2, Q3

• TITAN EXEC: ON LONGER-TERM BASIS VERY CONFIDENT OF GROWTH

• TITAN EXEC: BECOMING A CHALLENGE TO PREDICT GOLD PRICES

• TITAN EXEC: SEEING GOOD TRACTION IN STUDDED GOLD SALES

• TITAN EXEC: PUSHING FOR HIGHER GROWTH IN CUSTOMER TICKET SIZE

• TITAN EXEC: SEE GOLD ON LEASE RATES GOING UP

• TITAN EXEC: WILL GET DUE SHARE OF CONSUMPTION BOOST FROM CHANGE IN INCOME TAX SLABS

Source text: [ID:]

Further company coverage: TITN.NS

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** Shares of Tata-owned Titan TITN.NS rise 0.8% ahead of Q3 results, while broader Nifty 50 .NSEI is off 0.3%

** Analysts expect the jeweller-cum-watchmaker to post a 6.4% drop in Q3 net profit to 9.86 bln rupees ($113.3 mln)

** Revenue though rose 23% on strong demand for jewellery during festival season

** TITN had warned of hit to Q3 profit from customs duty cut, same as in Q2, as it had bought inventory before the cut, which lowered avg value of stock and forced it to sell at reduced prices

** Avg rating of 29 analysts is "buy"; median PT is 3,625 rupees vs current price of 3,608 rupees -LSEG data

** TITN has gained 10.7% YTD, 6th highest on Nifty 50, while its fwd 12-month PE of ~68x is 3rd highest on Nifty -LSEG

($1 = 87.0325 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Titan Co TITN.NS rise 2.3% to 3,549 rupees, their highest point in three months

** Stock among top gainers on Nifty 50 index .NSEI, which is up 0.42%

** TITN released its quarterly update on Monday, and shares rose 2% before closing 0.5% higher

** Co said it expects a 24% rise in Q3 rev, buoyed by domestic festive demand for jewellery

** Optimistic about TITN's rev growth over long term, given its ability to gain market share across geographies, Antique Stock Broking analysts say

** Expects co to deliver sales growth of 19% over FY24–27

** Margins may remain weak, but co's pursuit for rev growth to work in stocks favor, Morgan Stanley analysts say, and maintained an "equal-weight" rating

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Tata-owned Titan TITN.NS rise 2.1% to 3,524 rupees

** Stock among top gainers on Nifty 50 index .NSEI, which is up 0.16%

** The jeweller said it expects a 24% Y/Y rise in Q3 revenue, buoyed by domestic festive demand for core jewellery segment

** Co, which sells Tanishq and CaratLane jewellery, said revenue from jewellery grew 26% Y/Y aided by wedding and festival season

** Stock eyes fourth straight session of gains, if trend holds

** Analysts covering the stock on avg have a "buy" rating, same as rival Kalyan Jewellers KALN.NS while Senco Gold SENC.NS rated "strong buy"; median PT on TITN is 3,600 rupees - data compiled by LSEG

** Shares in Titan slipped ~15% in Q3 vs an 8.4% drop in .NSEI

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Titan Company TITN.NS drops 0.5%, extending yearly loss to 11.9%; set to snap seven straight years of gains

** Stock set for fifth straight session of losses; among worst performers on Nifty 50 index .NSEI, which is up 8.6% YTD

** Tata group-owned co's Q1 sales impacted by higher gold prices

** Q2 margins impacted by custom duty cut on gold as TITN already had inventory purchased before the cut in import taxes

** Stock rated "buy" on avg; median PT is 3,600 rupees - LSEG

(Reporting by Ashish Chandra in Bengaluru)

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By Rajendra Jadhav and Rahul Paswan

MUMBAI, Dec 18 (Reuters) - Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said.

"I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years," said Mumbai-based Shubhangi More, choosing a necklace with a traditional design for her daughter's wedding.

Gold prices MAUc1 in the world's second biggest buyer of the precious metal have surged 22% so far this year, after rising 15% in 2023.

Most Indian buyers prefer traditional jewellery, but now they want it crafted in lightweight designs to fit their budgets, said Bachhraj Bamalwa, partner at jewellery retailer Nemichand Bamalwa & Sons.

"Recognising this preference, we are stocking more lightweight jewellery sets while scaling down our inventory of heavier designs," Bamalwa said.

Advances in manufacturing technology have enabled jewellery makers to craft traditional designs in lighter weights, said Sachin Jain, CEO of the World Gold Council's Indian operations.

Buyers are also switching to lower carat jewellery to reduce costs, jewellers said.

Guddi Devi, a teacher from Jamalpur in the northern state of Bihar, bought 18-carat jewellery for her daughter's wedding instead of 22-carat.

"I preferred the 18 carats of jewellery because it was cheaper compared to the 22 carats and is much stronger than it," she said.

Indians traditionally prefer jewellery made in 22-carat gold, which contains 91.7% pure gold, while 18-carat gold contains 75% pure gold and 25% other metals. The price of 18-carat gold is nearly a fifth lower than that of 22-carat gold.

"Lower prices and greater durability are making 18-carat jewellery increasingly popular. Its share in total sales has risen to over 15%, compared to just 5% to 7% two years ago," said Surendra Mehta, secretary at the India Bullion and Jewellers Association.

(Reporting by Rajendra Jadhav and Rahul Paswan. Editing by Mark Potter)

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Dec 9 (Reuters) - Elpro International Ltd ELPR.BO:

• ELPRO INTERNATIONAL LTD - ACQUIRED EQUITY SHARES OF TITAN CO

• ELPRO INTERNATIONAL LTD - COST OF ACQUISITION AT 100 MILLION RUPEES

Source text: ID:nBSEbnfvH7

Further company coverage: ELPR.BO

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Nov 19 (Reuters) - Elpro International Ltd ELPR.BO:

• HAS ACQUIRED EQUITY SHARES OF TITAN CO FOR UP TO 100.1 MILLION RUPEES

Source text: ID:nBSE1kX1HP

Further company coverage: ELPR.BO

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Nov 11 (Reuters) - Ashapuri Gold Ornament Ltd ASHD.BO:

• ENTERED INTO AGREEMENT FOR SUPPLY OF GOLD JEWELLERY TO TITAN COMPANY

Source text: ID:nBSE9xb2Kb

Further company coverage: ASHD.BO

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** Shares of Titan Company TITN.NS fall as much as 3.6% to 3,114 rupees, their lowest levels since June 4

** The jewellery and watch manufacturer reported a 23% Y/Y fall in Q2 profit on Tuesday

** Brokerage Jefferies says the impact of custom duty cut while benefited the jewellery growth, weighed negatively on TITN's reported margins

** More than 1.2 mln shares change hands, 1.2x of 30-day avg

** At least 13 of 29 analysts have cut their PT since results on Wednesday; two have raised their targets - LSEG

** Median PT now 3,650 rupees, down 3.4% from Oct

** TITN stock fell 14.6% in Oct, snapping four straight monthly gains

** Stock last down 3%, taking YTD loss to 14.8%

(Reporting by Ashish Chandra in Bengaluru)

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Nov 5 (Reuters) - Indian jeweller and watchmaker Titan TITN.NS reported a smaller-than-expected second-quarter profit on Tuesday, hurt by weak demand in its studded jewellery business.

The Tata group company posted a consolidated profit of 7.04 billion rupees ($83.74 million) in the quarter ended Sept. 30, compared to 9.15 billion rupees a year ago.

Analysts' on average expected 9.47 billion rupees, according to data compiled by LSEG.

($1 = 84.0710 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Abinaya Vijayaraghavan)

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Repeats story that ran on Tuesday, with no changes

By Rajendra Jadhav

MUMBAI, Oct 29 (Reuters) - Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.

Robust demand in the world's second-biggest gold consumer could further support global prices XAU=, which hit record highs last week. Rising demand for imports of gold could also widen India's trade deficit and put pressure on the rupee INR=IN.

"People are still into gold big time, even with prices at record highs during Dhanteras. With gold giving better returns than the stock market, there's been solid demand for coins and bars," said Saurabh Gadgil, chairman of PNG Jewellers PNGD.NS.

Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India.

Local gold prices MAUc1 jumped to a record high of 78,919 rupees per 10 grams last week, marking an increase of more than 31% since last year's Diwali. India's NSE Nifty 50 share index has dropped about 7% from a record high hit on Sept. 27.

Investors are working to diversify their portfolios by adding to or increasing their allocations in gold and silver, Gadgil said.

"In value terms, turnover during this year's Dhanteras is expected to be significantly higher than last year due to higher prices. In volume terms, it may be slightly lower or around the same level as last year," Prithviraj Kothari, president of the India Bullion and Jewellers Association (IBJA), said.

Indian dealers on Tuesday charged a premium XAU-IN-PREM of up to $1 an ounce over official domestic prices – inclusive of 6% import and 3% sales levies, up from the last week’s discount of $4.

Local silver futures MSVc1 hit a record high of 100,081 rupees per kilogram last week.

"Demand for silver coins and bars was strong today, as silver has delivered better returns than gold in recent months," said Chirag Thakkar, CEO of Amrapali Group Gujarat, a leading silver importer.

(Reporting by Rajendra Jadhav; Editing by Susan Fenton)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

By Rajendra Jadhav

MUMBAI, Oct 29 (Reuters) - Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.

Robust demand in the world's second-biggest gold consumer could further support global prices XAU=, which hit record highs last week. Rising demand for imports of gold could also widen India's trade deficit and put pressure on the rupee INR=IN.

"People are still into gold big time, even with prices at record highs during Dhanteras. With gold giving better returns than the stock market, there's been solid demand for coins and bars," said Saurabh Gadgil, chairman of PNG Jewellers PNGD.NS.

Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India.

Local gold prices MAUc1 jumped to a record high of 78,919 rupees per 10 grams last week, marking an increase of more than 31% since last year's Diwali. India's NSE Nifty 50 share index has dropped about 7% from a record high hit on Sept. 27.

Investors are working to diversify their portfolios by adding to or increasing their allocations in gold and silver, Gadgil said.

"In value terms, turnover during this year's Dhanteras is expected to be significantly higher than last year due to higher prices. In volume terms, it may be slightly lower or around the same level as last year," Prithviraj Kothari, president of the India Bullion and Jewellers Association (IBJA), said.

Indian dealers on Tuesday charged a premium XAU-IN-PREM of up to $1 an ounce over official domestic prices – inclusive of 6% import and 3% sales levies, up from the last week’s discount of $4.

Local silver futures MSVc1 hit a record high of 100,081 rupees per kilogram last week.

"Demand for silver coins and bars was strong today, as silver has delivered better returns than gold in recent months," said Chirag Thakkar, CEO of Amrapali Group Gujarat, a leading silver importer.

(Reporting by Rajendra Jadhav; Editing by Susan Fenton)

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