Titan Shares Rise Over 1% After Strong Q1 Results, Turns Top Nifty50 Gainer Today

Titan Company shares rose more than 1% on Monday, Aug 10, making the jewellery and watches major the top gainer on the Nifty 50 after its strong June-quarter performance. The stock gained 1.5% to around ₹5,015 in early trade.

Titan shares had declined 1.14% on Friday before the results. The stock has gained 22% so far in 2026, significantly outperforming the Nifty 50, which has fallen 6%. Titan’s market capitalisation stood at around ₹4.39 lakh crore.

Brokerages remain positive

According to a report by NDTV Profit, Citi retained its ‘Buy’ recommendation and raised its target price to ₹5,700. It said jewellery revenue and EBIT increased 38% and 33%, respectively, excluding bullion sales and one-offs. Citi noted that reported profit rose 65%, helped by a ₹386 crore customs-duty benefit and a 75-80 basis-point mark-to-market gain.

The brokerage expects Titan’s growth and profitability to remain strong and raised its FY27-FY29 earnings-per-share estimates by 5-10%. It also expects the product mix to improve as gold coin growth moderates while studded jewellery expands faster.

HSBC also maintained its ‘Buy’ rating with a target of ₹5,550. It highlighted the resilience of Titan’s underlying jewellery margins despite several factors affecting the quarter. Jewellery EBIT margin stood at 10.9%, compared with 11.3% a year earlier.

JPMorgan maintained its ‘Overweight’ rating and ₹5,465 target, saying revenue and adjusted EBITDA exceeded market expectations. It pointed to a 38% increase in domestic jewellery revenue, supported by a 31% rise in transaction values.

Jewellery business drives growth

JPMorgan identified Titan’s gold exchange programme, lighter and lower-carat jewellery and diamond activation as potential growth drivers. It raised its FY27-FY28 earnings estimates by 1-2%.

Jefferies retained its ‘Hold’ rating with a ₹5,000 target. It acknowledged strong jewellery revenue growth and a record reported EBIT margin, but said adjusted margins were broadly in line with guidance.

Titan reported a 65% year-on-year increase in consolidated net profit to ₹1,699 crore for the June quarter. Revenue from operations rose 24.3% to ₹18,101 crore, although it fell short of the ₹19,700-crore estimate.

Its jewellery portfolio grew 43%, excluding bullion and Digi-gold sales, while watches revenue increased 21%. The smartwatches business, however, recorded a single-digit decline.