Titan shares jumped 3% after Macquarie reiterated its ‘Outperform’ rating on the stock with a target price of ₹4,150. As of 11:55 AM, the shares were trading 3.26% higher at Rs 3,640.90.
The brokerage expects strong jewellery demand to drive growth in the June quarter, and believes EBIT margins in the segment likely bottomed out in FY25. Macquarie is projecting over 20% year-on-year growth in both jewellery sales and EBIT for the quarter.
Titan shares opened at ₹3,550 and, at the time of writing, touched a high of ₹3,643.10 during the day, while the low remained at ₹3,550. The stock continues to trade in an upward range, staying close to its 52-week high of ₹3,867.00. The 52-week low stands at ₹2,925.00.
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