Ashok Sonthalia, Chief Financial Officer of Titan Company , told CNBC-TV18 that the festive period saw good traction and demand continues to remain firm after Diwali. He noted that the 5-6% correction in gold prices has helped improve buying sentiment.

The jewellery business is expected to grow around 20% for the full year, compared to 18% in the first half, while margins stable at around 11%, despite some pressure from higher gold prices.

“It is becoming increasingly difficult, while we are doing a lot of things to offset that pressure… 11% plus or minus something would be a realistic number,” Sonthalia said.

Volumes were lower earlier in the year due to high gold prices, but festive sales have helped recover demand. He said the third quarter growth so far has been better than the fi

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