TITAN

** Shares of jeweller Titan Company TITN.NS rise 3.6% to 3,536 rupees; Nifty 50 .NSEI marginally down

** Co posted 18% rise in Q2 domestic sales

** Rev growth "significantly" ahead of estimates - Investec

** Early festive season, attractive offers drove healthy growth - J.P.Morgan

** Brokerages expect margins to stay under pressured on high marketing spends

** CLSA remains "positive" on TITN over medium term

** Stock rated "buy" on avg by 35 analysts covering it; median PT at 3,965 rupees - data compiled by LSEG

** YTD, TITN up nearly 9% vs Nifty 50's 6.2% rise

(Reporting by Komal Salecha)

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Oct 7 (Reuters) - India's Titan Company TITN.NS reported an 18% rise in domestic sales in the second quarter on Tuesday, slower than the 25% it registered during the same period last year, as soaring gold prices stunted demand for higher carat jewellery.

The jewellery business, which contributes close to 90% of overall revenue, grew 19% year-on-year, the Bengaluru-based company said in its business update for the quarter ended September 30.

Spot gold prices XAU= rose 16.4% in the quarter as investors fled to the safe-haven commodity amid global economic volatility.

Higher gold prices have led to a "marginal year-on-year decline" in buyer count, the company said, even as ticket prices rose as fewer customers bought more expensive items.

Studded jewellery in Titan's Tanishq, Mia and Zoya portfolio collectively grew in the mid-teens, outpacing growth in plain gold jewellery, the company said.

Investment-grade gold coins continued their strong run for the quarter, the company said, as Indians chose to invest in the bullion as a store of value. However, since coins yield lower profit margins than jewellery, the shift has constrained overall margin growth in recent quarters.

The company's watches business, second-largest by revenue, clocked sales growth of 12%. The analog segment grew by 17%.

The international business grew 86% year-on-year, led by Tanishq more than doubling its business in the United States, the company added.

(Reporting by Ananta Agarwal and Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair)

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By Rajendra Jadhav and Brijesh Patel

NEW DELHI, Sept 15 (Reuters) - Gold demand in India this festive season is expected to be weaker than last year, as record-high prices are likely to curb jewellery purchases, outweighing modest gains in investment demand.

Weaker demand in the world's second-largest gold consumer could limit a rally in global prices XAU=, which hit a record high last week. But sluggish demand for gold imports could limit India's trade deficit and support the rupee.

Local gold prices MAUc1, which scaled a record peak of 109,840 rupees per 10 grams last week, have risen 42% year-to-date, after gaining 21% in 2024.

"Consumers have a fixed budget, and it's not keeping up with rising prices. We're expecting demand to fall by about 10%-15% in volume," Amit Modak, chief executive of PN Gadgil and Sons, said on the sidelines of the India Gold Conference in New Delhi.

Indians will celebrate Dussehra and Diwali in October, festivals during which buying gold is considered auspicious.

The December quarter typically accounts for about a third of India's gold sales, as it coincides with the start of the wedding season and festivals.

Gold demand in the December quarter last year stood at 265.8 metric tons, boosted by a price correction just ahead of the festive season after New Delhi slashed import duties on the metal to 6% from 15% in a bid to tackle smuggling.

Consumer sentiment has improved in the last few weeks despite rising prices, and in value terms, demand will still be much higher even if volumes decline, said Sachin Jain, CEO of the World Gold Council's Indian operations.

Besides, investment demand, especially through exchange-traded funds (ETFs), has been rising as gold has been delivering better returns than competing asset classes, Jain added.

Retail gold buying could get a boost from the government's move to cut goods and services tax (GST) on consumer items, as this will leave people with more disposable income, Harshad Ajmera of wholesaler JJ Gold House in Kolkata.

Earlier this month, India announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand.

(Reporting by Rajendra Jadhav and Brijesh Patel; Editing by Sumana Nandy)

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Aug 25 (Reuters) - Titan Company Ltd TITN.NS:

• TITAN CO - APPROVED APPOINTMENT OF PUNEET CHHATWAL AS ADDITIONAL DIRECTOR ON BOARD

Source text: ID:nnAZN4ESQ80

Further company coverage: TITN.NS

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

• TITAN CO Q1 CONSOL NET PROFIT 10.91 BILLION RUPEES

• TITAN CO Q1 CONSOL SALE OF PRODUCTS 148.14 BLN RUPEES

Further company coverage: TITN.NS

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Adds IPO launch date in paragraph 4, details on issue of specified securities in paragraph 6

Aug 5 (Reuters) - India's Bluestone Jewellery and Lifestyle BLUT.NS has trimmed the size of its initial public offering, a prospectus showed on Tuesday.

The Accel India-backed company will now issue fresh shares worth 8.2 billion rupees (about $93 million), down from 10 billion rupees earlier.

Its existing shareholders, including venture capital firms Accel India and Kalaari Capital, will now sell 13.9 million shares in the offering, lower than the 24 million shares proposed earlier.

Bluestone will launch the IPO on August 11 and close bids on August 13. Anchor investors will bid for the share sale on August 8.

The jeweller was seeking a valuation of at least 120 billion rupees ($1.37 billion) in the IPO, Reuters reported in December, citing sources. The overall IPO size was slated to be around 30 billion rupees, the sources had said.

The company may consider issuing specified securities, in consolidation with bookrunning lead managers, aggregating up to 2 billion rupees in pre-IPO placement, its draft prospectus from December said.

The company, which sells diamond, gold, platinum and studded jewellery, competes with Titan TITN.NS, Kalyan Jewellers KALN.NS and Tribhovandas Bhimji Zaveri TBZL.NS among listed firms in India.

Proceeds from the offering will be used to fund working capital requirements and general corporate purposes, the Bluestone prospectus showed.

Axis Capital, IIFL Capital and Kotak Mahindra Capital are its bookrunning lead managers.

($1 = 87.7790 Indian rupees)

(Reporting by Manvi Pant; Editing by Shailesh Kuber)

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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)

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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)

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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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Adds executive comment, details on results, background

Feb 4 (Reuters) - Indian jeweller and watchmaker Titan TITN.NS reported a largely flat third-quarter profit on Tuesday, but still topped estimates as customers looked past high gold prices to splurge on ornaments during the festive season.

The company reported a profit of 10.47 billion rupees ($120.23 million) in the quarter ended Dec. 31, compared to 10.53 billion rupees a year ago.

Analysts, on average, had expected a profit of 9.86 billion rupees, according to data compiled by LSEG.

Indian brands record higher sales during the festive period, which coincides with the fiscal third quarter, as consumers scramble to buy everything from clothes to jewellery.

The company sales grew about 26% to 175.5 billion rupees.

Titan's mainstay jewellery business, which houses the Tanishq and Mia brands and accounts for the majority of revenue, reported a 26% growth. The company in a statement said it was the "strongest quarter" for this segment.

"The festive quarter brought consumer cheer," Titan said.

Large jewellers have weathered a broader consumption slowdown despite high gold prices as India, the world's second-biggest gold consumer, treats bullion as an investment.

Domestic gold prices MAUc1 touched a then-record high of 79,775 rupees ($916.14) per 10 grams in October, before falling in November and bouncing back again in December.

The profit was largely flat despite sales growth as Titan had bought gold worth billions of rupees well ahead of India's move to cut import duties on gold in July 2024.

It then had to sell the gold it had purchased at higher costs for lower prices.

That led to its net profit margin shrinking to 5.9% for the December quarter, from 7.43% a year earlier. However, this was a sharp uptick from 4.84% in the previous quarter.

The company has now absorbed the full impact of losses from the gold import tax cut, Managing Director CK Venkataraman said.

($1 = 87.0800 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Varun H K)

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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

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