Titan's jewellery division continues to gain market share with better than industry performance. Buoyancy in jewellery demand driven by festive and wedding related purchases in October and November enabled significant revenue growth during the quarter. We expect Titan's jewellery revenues to grow 30% YoY (up 36% YoY, excluding bullion sales). Improvement in studded share compared to the corresponding quarter of the previous year would aid in enhancing the profitability of the jewellery segment. The watches segment also witnessed strong growth momentum with multi brand...