Titan Stock Rides Bullish Sentiment Amid Optimism for Jewelry Growth

Titan Company Ltd Sees Bullish Outlook from Brokerages

Shares of Titan Company Ltd traded higher on Friday after multiple brokerages reiterated their bullish view on the stock following the company's ambitious growth roadmap for its jewellery business. The stock rose 0.3 percent to Rs 4,244.5 in early trade after gaining 3.7 percent in the previous session. Over the past year, Titan stock has risen 21 percent, significantly outperforming the Nifty 50, which has declined 5.4 percent during the same period.

Brokerages remained broadly constructive after Titan outlined plans to double its jewellery business revenue by FY30 from FY26, and stated a target of around 20 percent compound annual growth in revenue through FY30. The company also aims to increase its domestic jewellery market share to 11 percent from 8.5 percent currently, and expand its jewellery store network to 1,400 outlets from around 800 at present.

CLSA maintained its Outperform rating on Titan stock with a target price of Rs 5,249 per share, implying an upside of nearly 24 percent. The brokerage said Titan continues to target a 20 percent CAGR in jewellery revenue and a 1.9-times increase in jewellery EBIT by FY30. CLSA highlighted resilient consumer sentiment and said Titan's portfolio-led strategy across categories is supporting premiumisation and strengthening brand equity.

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HSBC also retained its Buy rating with a target price of Rs 5,250 per share. The brokerage said Titan's FY30 ambitions imply a 19 percent CAGR in consolidated revenue and EBIT. It expects the company's jewellery brands -- Tanishq, Mia, and Zoya -- to deliver revenue and EBIT CAGR of 19 percent and 16 percent, respectively.

Jefferies maintained a Hold rating on Titan stock with a target price of Rs 4,800 per share. The brokerage said Titan's FY30 targets imply around 20 percent CAGR in both revenue and EBIT over FY26-30. It highlighted cross-selling opportunities from the company's customer base of about 50 million, improving digital and customer relationship management platforms, and growth potential from international operations. However, Jefferies said regulatory overhang remains a key factor tempering its outlook despite Titan's strong execution track record.