New Delhi, July 9 -- Shares of Titan Co. Ltd fell by 6% on Tuesday after the jewellery major reported a tepid business update for the June-ended quarter (Q1FY26), raising fresh concerns about growth amid high gold prices and soft consumer sentiment.

Titan's domestic jewellery business grew 18% year-on-year in Q1, with its key brands-Tanishq, Mia and Zoya (TMZ)-posting 17% growth. "This is lower versus our initial estimates of about 22% jewellery growth," said JM Financial Institutional Securities.

The performance was modest, especially considering a more than 30% rise in gold prices during the quarter and a favourable base-the same quarter last year saw only 9% growth due to election-related restrictions in many markets, fewer wedding d...