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Titan shares hit a record after June-quarter performance
The stock rose 4% to ₹5,122, with Motilal Oswal projecting an 18% sales CAGR and Citi lifting its target to ₹5,700.
Titan shares jumped 4% on Monday, 10 August, to a fresh all-time high of ₹5,122 after the company reported an upbeat June quarter, extending momentum tied to its growth outlook.
The rally was supported by analyst activity, including Motilal Oswal, which reiterated a Buy rating and projected growth led by Titan’s jewellery business. The brokerage forecast an 18% CAGR in sales, 22% in EBITDA, and 25% in APAT over FY26-28E, citing the company’s competitive positioning and initiatives such as its exchange programme, along with potential margin visibility if gold prices stay stable.
Other brokerages also weighed in. Citi maintained a Buy rating and raised its target price to ₹5,700 from ₹5,075, while Nuvama downgraded Titan to Hold from Buy after the stock’s run-up and flagged risks tied to the existing 10% customs duty on gold.
LiveMint Markets reports Nuvama adjusted its estimates slightly, trimming FY27 and FY28 revenue projections by 0.5% each, while changing its PAT estimates, and said duty reductions could alter current dynamics, while further increases could be negative for Titan.
Latest closeGold $4,292.50 ▼0.6%