Titan Shares Jump Over 3% As Investors Cheer Strong Results 

Mumbai, August 10: Titan Company shares rose as much as 3.6% on Monday, emerging as the top Nifty 50 gainer after the jewellery and watches major delivered a strong June-quarter performance. Brokerages remained positive on the stock, citing robust jewellery growth, healthy underlying margins, market-share gains and scope for an improved product mix to drive earnings. 

Strong show 

Consolidated net profit grew 65% year-on-year rise to ₹1,699 crore for the June quarter. Revenue from operations increased 24.3% year-on-year to ₹18,101 crore, although it came below estimates. 

The jewellery business revenue rose 43% year-on-year excluding bullion and Digi-gold sales. The company said demand was supported by strong festival and Akshaya Tritiya sales. Watches portfolio grew 21%. 

Brokers raise target 

Stock jumped as investor and brokers cheered results. Source: NSE 

Brokers retained Buy rating on Titan and raised target price, implying more than 15% upside from Friday’s closing price. 

The brokerages highlighted strong underlying momentum in the jewellery business, with jewellery revenue and EBIT growing 38% and 33%, respectively, excluding bullion sales and one-offs. They also expect Titan’s growth and profitability outlook to remain favourable, helped by an improving sales mix. 

The brokerages expect growth to benefit as gold coin sales moderate while studded jewellery grows at a faster pace. They raised FY27-FY29 earnings-per-share estimates by 5-10%. 

Brokers see jewellery margins holding up 

Brokerages pointed to the resilience of Titan’s underlying jewellery margins. 

Titan’s jewellery EBIT margin stood at 10.9%, compared with 11.3% a year earlier. Brokers expect the jewellery business to grow around 30% year-on-year in the second quarter of FY27 and 19% for the full financial year. 

The brokerages also raised earnings estimates for Titan’s subsidiaries, sounding constructive on the broader business. 

Some brokers cautious 

Brokerages noted that domestic jewellery revenue increased 38% despite the customs-duty hike, aided by a 31% increase in transaction values and demand-focused initiatives. 

Not all brokerages turned bullish. Some retained Hold rating while acknowledging strong jewellery revenue growth and a record reported EBIT margin. 

They expect Titan to continue focusing on customer acquisition and market-share gains, with management targeting a jewellery margin of around 11%. 

They also expect international profitability to improve as Damas normalises. 

Titan stock outlook 

Titan’s shares have gained around 25% so far in 2026, significantly outperforming the Nifty 50, which has declined about 6% over the same period. The latest earnings-driven rally suggests investors are placing greater emphasis on the company’s jewellery growth trajectory and margin potential. 

The key triggers ahead will include jewellery demand, gold prices, premiumisation, market-share gains and the pace at which Titan can sustain margins. While brokerages broadly remain constructive, the stock’s elevated valuation means execution and sustained earnings growth will remain crucial for further upside. 

Source

•  https://www.nseindia.com/get-quote/equity/TITAN/Titan-Company-Limited