Titan Shares Surge to Life-High After Robust Q3 Updates
Shares of Titan Co Ltd. surged 3.51% on Wednesday, with the stock currently trading at Rs 4256.40 apiece, after the company shared its robust quarterly updates on Tuesday. The Tata Group firm reported a 41% year-over-year (YoY) growth in its jewellery division, which contributed around 85% of its business.
Key Highlights of Q3 Updates
The company’s flagship jewellery brand, Tanishq, deployed a gold exchange offer to navigate the elevated gold price environment and sustained consumer engagement beyond the traditional festive window. Studded jewellery also clocked its best performance for FY26. In FY25, revenue from operations of Titan was at Rs 57,339 crore, in which its jewellery division contributed Rs 46,571 crore, up over 81% year-on-year.
Its domestic watch business clocked a growth of 13%, driven by the analogue clock sales, which reported a 17% growth, helped by festive demand. However, Titan’s smart watches category declined 26% YoY, led by lower volumes. The division added 22 new stores, consisting of 9 stores in Titan World, 9 stores in Fastrack, 3 in Helios, and 1 store in Helios Luxe.
Emerging Businesses Show Promise
Titan’s eye care business grew 16% in domestic sales. In the emerging businesses, the fragrance vertical grew 22%, led by double-digit volume growth in Fastrack and Skinn brands. Its women’s bags category grew two-fold (111%), led by network expansion. However, sales of its Indian dresswear business, Taneira, declined by 6% YoY.
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Analyst Ratings and Price Targets
Out of 37 analysts tracking the company, 29 maintain a ‘buy’ rating, six recommend a ‘hold’ rating, and two maintain a ‘sell’ rating, according to Bloomberg data. The average 12-month consensus price target of Rs 4316.22 implies an upside of 20.2%.
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