Shares of Titan Company rose over 1% in early trade on Tuesday, November 4, driven by strong Q2 FY26 earnings and positive brokerage commentary. The stock traded around ₹3,768 on NSE, up from the previous close of ₹3,724.50.
The company reported a 42.7% year-on-year rise in net profit to ₹1,006 crore for Q2 FY26, supported by robust festive-season demand and growth across key segments. Revenue grew 25.1% YoY to ₹16,534 crore, beating estimates. EBITDA climbed 43% to ₹1,620 crore, while operating margins improved to 9.8% from 8.6% a year ago.
Jewellery remained the core growth driver, with revenue up 21% YoY to ₹14,092 crore (excluding bullion and DigiGold). Watches & wearables revenue rose 13% YoY to ₹1,477 crore as festive footfalls and premium segment traction strengthened. Management highlighted strong Navratri demand and noted accelerating momentum through the quarter. Titan also announced plans to acquire majority stake in GCC-based Damas Jewellery.
Brokerage outlook
Nomura maintained a Buy rating with a target price of ₹4,275 per share, highlighting strong sales traction and festive-season outlook. Morgan Stanley reiterated its Overweight stance with a target price of ₹3,953, citing better-than-expected revenue, EBITDA and profit performance, along with strong jewellery margins.
Titan shares have traded between ₹2,925 and ₹3,800 over the past year and currently command a market cap of ₹3.34 lakh crore.
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