Titan share price rallied over 4% in early trade on Wednesday after the company reported a strong business update for the second quarter of FY26. The Tata Group stock gained as much as 4.40% to ₹3,567.00 apiece on the BSE.
Titan Company’s Consumer Businesses registered a growth of 20% year-on-year (YoY) in Q2FY26.
The company added a total of 55 stores (net) during the July-September 2025 quarter, expanding Titan’s combined retail network presence to 3,377 stores.
Titan’s domestic jewellery business delivered 19% YoY growth in Q2FY26. Watches domestic business grew 12% YoY, driven by analog segment clocking 17% growth YoY. EyeCare segment’s domestic business grew 9% YoY led by healthy performance from international brands, sunglasses and growth in E-commerce channel, Titan Company said in its provisional quarterly business update on October 7.
In the Emerging Businesses (domestic), Fragrances grew 48% YoY led by strong volume growths in Fastrack and Skinn, Women’s Bags grew 90% YoY led by network expansion and Taneira grew 13% YoY, Titan said.
Should you buy Titan shares?
Brokerage firm Antique Stock Broking expects Titan’s gross margin is likely to be under pressure in Q2 due to a surge in gold prices. However, steady growth in studded jewelry should partially offset the impact. Incrementally, improvement in profitability of watches could ease some margin pain.
“We remain confident of a 19% CAGR in jewelry revenue during the next three years. While jewelry EBIT margin has bottomed out (9.7% in FY25), we are expecting it to improve during the next three years to 11.8%. In our view, Titan medium to long term performance will be driven by market share gain in the jewelry business on account of strong brand name, execution, and scaling up of store network. Additionally, improving profitability of other segments bodes well for the company,” said the brokerage house.
It models an EBIT margin expansion of 210 bps for jewelry over the next three years, reaching 11.8% by FY28, driven by improving product mix and operational efficiencies.
Antique Stock Broking maintained its estimates and a ‘Buy’ rating on Titan shares with a target price of ₹4,615 apiece, valuing the stock at 60x P/E on H1FY28 estimates (9% premium to 5-year average).
Titan Share Price Performance
Titan share price fell 3% in one month, while it gained 14% in six months. The Rekha Jhunjhunwala-portfolio stock has risen 10% on a year-to-date (YTD) basis, and has advanced just 7.5% in two years. Titan share price has delivered 185% returns in the past five years.
At 10:00 AM, Titan share price was trading 4.14% higher at ₹3,557.90 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
