Highlights
- Titan shares climbed nearly 3.5% on Nov 6
- Q2 consolidated net profit more than doubled.
- Citi assigned the highest target
Titan Share Price Today: Shares of Titan Company climbed nearly 3.5 per cent on Friday, November 6, after the Tata Group-owned jewellery and watchmaker reported a more than twofold increase in consolidated net profit for the September quarter of FY27. The stock touched an intraday high of Rs 5,003.90 on the National Stock Exchange, compared with its previous closing price of Rs 4,834.60.
The rally came as several domestic and global brokerages maintained positive ratings on Titan following its quarterly earnings. Citi and Goldman Sachs raised their target prices, while Nuvama also revised its target upwards but retained a ‘Hold’ rating. Analysts highlighted improving jewellery margins, strong growth in watches and the expanding CaratLane business, although concerns remain over subdued buyer growth, elevated valuations and competitive pressures.
Titan Q2 results FY27: Profit more than doubles
Revenue from operations rose 23.54 per cent year-on-year to Rs 20,337 crore, against Rs 16,461 crore a year earlier.
However, the latest quarterly performance marked a moderation in revenue growth after the company reported growth exceeding 40 per cent for three consecutive quarters.
Titan share price target: What brokerages recommend
Brokerages offered a mixed assessment of Titan’s valuations and growth prospects, with target prices ranging from Rs 5,300 to Rs 5,875.
| Brokerage | Rating | Target price |
| Citi | Buy | Rs 5,875 |
| Goldman Sachs | Buy | Rs 5,800 |
| Emkay | Add | Rs 5,600 |
| Morgan Stanley | Overweight | Rs 5,483 |
| Nuvama | Hold | Rs 5,479 |
| Bernstein | Outperform | Rs 5,400 |
| PL Capital | Accumulate | Rs 5,330 |
| Elara Capital | Accumulate | Rs 5,300 |
Citi’s target of Rs 5,875 is the highest among the eight brokerages, implying a potential upside of approximately 21.5 per cent from Titan’s previous closing price of Rs 4,834.60.
What brokerages said about Titan Q2 results
Citi: Maintained ‘Buy’ and raised its target to Rs 5,875 from Rs 5,700, citing stronger jewellery margins and 32 per cent growth in studded jewellery. It expects growth to moderate in the second half of FY27.
Goldman Sachs: Retained ‘Buy’ and increased its target to Rs 5,800 from Rs 5,600. Core jewellery EBIT rose 26 per cent, although CaratLane profitability disappointed amid higher marketing expenses.
Emkay: Maintained ‘Add’ with an unchanged target of Rs 5,600. The brokerage highlighted a 12 per cent adjusted EBIT beat and strong performances across watches, international operations and TEAL.
Morgan Stanley: Retained ‘Overweight’ with a target of Rs 5,483. It highlighted stronger jewellery margins but cautioned that gold price volatility and competitive intensity could limit near-term gains.
Nuvama: Maintained ‘Hold’ while raising its target to Rs 5,479 from Rs 5,030. The brokerage highlighted 22 per cent core jewellery growth and an improvement in adjusted margins to 11.7 per cent.
Bernstein: Reiterated ‘Outperform’ with a target of Rs 5,400. It highlighted strong watches profitability and 31 per cent CaratLane revenue growth despite softer jewellery sales.
PL Capital: Cut its rating to ‘Accumulate’ with a target of Rs 5,330. It remains positive on wedding-season demand, lightweight jewellery and growth opportunities in watches and TEAL.
Elara Capital: Maintained ‘Accumulate’ with a target of Rs 5,300. It flagged flat buyer growth across Tanishq, Mia and Zoya despite strong studded jewellery sales.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)