Chennai, May 25 -- We have ended the year with a superlative quarter for top line growth, perhaps our best ever in the recent past."

That comment, by Ajoy Chawla, Titan Co. Ltd's managing director (MD), during the company's earnings call on 8 May, couldn't have been more ironic.

Between 11 May, the first full day of trading after Titan's results were announced, and 15 May, the end of the week, Titan's stock tanked over 7%, wiping out more than Rs.30,000 crore in investor wealth at one point.

The company's strong result-it generated revenue of Rs.20,300 crore in the quarter ending March 2026, up 46% over the year-ago quarter-was quickly overshadowed by macro concerns around gold consumption and imports.

On 10 May, Prime Minister Narend...