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Shares of Titan Company Ltd. may rally up to 17%, driven by strong demand in the jewellery segment, according to a note by Macquarie
Titan Shares
Titan Share Price: Shares of Titan Company Ltd. may rally up to 17 per cent from their last close, driven by strong demand in the jewellery segment, according to a recent note by Macquarie. The brokerage has maintained its “outperform“ rating on the stock, setting a target price of Rs 4,150 per share, against the previous closing price of Rs 3,539.
Macquarie’s industry checks suggest that demand for jewellery remained robust in the first quarter of FY26, despite elevated gold prices. Although footfall slightly moderated in June, the brokerage estimates 21 per cent year-on-year growth in sales and EBIT for Titan’s jewellery segment in Q1.
At 10:55 a.m., Titan shares were trading 2.2 per cent higher at Rs 3,601.7 on the NSE.
Gold prices, which surged past $3,500 per ounce in April amid geopolitical tensions and tariff concerns triggered by US President Donald Trump’s policies, remain near those historic highs, enhancing the appeal of gold as a safe-haven asset.
Macquarie also commented on the lab-grown diamond market, noting that customer adoption could slow if the recent GIA certification changes are widely adopted by other agencies. However, a rebound in demand for mined diamonds supports optimism for a stable product mix for Titan.
The brokerage also highlighted Titan’s confidence in maintaining jewellery EBIT margins between 11 per cent and 11.5 per cent for FY26, backed by competitive new launches and increasing profitability. Macquarie pointed out that Titan’s EBIT growth had been lagging sales in the past, but the trend is now reversing.
Currently, Titan holds a 7 per cent share of India’s jewellery market, which has expanded at a 13 per cent CAGR over the past 15 years—providing a strong platform for long-term growth, Macquarie said.
In Q4 FY25, Titan reported a net profit of Rs 870 crore, up 11 per cent from Rs 786 crore in the same quarter last year. Consolidated revenue jumped 20 per cent year-on-year to Rs 13,477 crore, driven by strong sales in the jewellery and watches segments.
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Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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