Titan Shares Record 5% Decline Despite A Robust 20% Growth In Q1

Tata owned Jewellery major Titan’s shares fell over 5 per cent on BSE on Tuesday despite a healthy performance in June ended quarter. During the quarter company’s year on year (YoY) consumer business grew 20 % in Q1FY26 with 10 new stores, expanding its retail footprint to 3,322 outlets.  Titan’s core jewellery business grew by 18% YoY, but the momentum was affected by fluctuations in gold prices. Although the Akshaya Tritiya season saw strong traction, the sharp rise in gold prices from May to mid-June led to more cautious consumer spending.

Despite the dip, analysts remain largely optimistic about the stock, with some projecting a potential upside of up to 17%.

Buyer growth remained flat YoY for both Tanishq (TMZ) and CaratLane, with many consumers shifting towards lightweight and lower karat jewellery due to the high price environment.

Watches,EyeCare Segment Grew

The watches division delivered a robust performance, registering a 23% YoY growth, fueled by both volume and value increases in the analog category. Among the brands, Sonata led the charge thanks to refreshed offerings, followed closely by Titan, with Fastrack and International brands also showing strong double-digit growth.  , Titan’s EyeCare business grew by 12% YoY, supported by both retail and e-commerce sales across house and international brands. The Titan Eye+ chain saw a net reduction of 20 stores, opening 12 new outlets while closing 32 during the quarter.

Brokerage Confident On Titan

Despite the market reaction, brokerage firms remain largely bullish on Titan. Morgan Stanley retained its ‘Overweight’ rating, setting a target price of Rs. 3,876. The brokerage noted that the jewellery segment underperformed expectations, noting flat buyer growth, but continues to view Titan as a long-term positive story.

Titan Share Price

As of 2:27 PM, the shares are trading at Rs 3,461 on BSE. It opened at Rs 3,579, which was also its high for the day, and touched a low of Rs 3,453.

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