Archive · 7 Oct 2026
Titan Shares Fall After Q2 Sales Miss; Analysts See Opportunity
Titan’s shares went down after its Q2 sales did not meet some expectations.
Analysts said jewellery sales were affected by festivals happening later and fewer people buying gold coins as investments.
They said this did not necessarily mean that shoppers were losing interest in jewellery.
Titan’s jewellery business still grew by 21% compared with the same period last year.
Its watches and Eyecare businesses also grew.
The company opened 78 new stores, bringing its total store network to 3,758.
Several brokerages still rated the shares a buy and set targets above the share price reported in the article.
Nomura said a price drop could give investors a chance to buy shares.
Titan shares fell 4.52% to an intraday low of Rs 4,334.90 on the BSE after its Q2 sales missed expectations.
Citi attributed the jewellery sales miss mainly to a festive-calendar shift into December and weaker investment-led coin demand, not an underlying demand slowdown.
Titan’s jewellery portfolio grew 21% year over year, while watches grew 30% and Eyecare grew 28%.
Titan added 78 stores, taking its combined retail network to 3,758; CaratLane revenue rose 32% year over year.
Brokerages maintained positive ratings, with price targets ranging from Rs 5,425 at Nomura to Rs 6,000 at MOFSL.
- Who
- Titan Company and brokerages including Nomura, Citi, HSBC, Morgan Stanley, MOFSL and SBI Securities.
- What
- Titan shares fell after Q2 sales missed expectations, while brokerages maintained positive views and set price targets.
- When
- During the Q2 reporting period; the article also refers to shareholding at the end of the June quarter.
- Where
- Titan shares traded on the BSE.
- Why
- Analysts linked the jewellery sales shortfall mainly to a festive-calendar shift into the December quarter and weaker investment-led coin demand.
- Share-price decline
- 4.52%
- Intraday low
- Rs 4,334.90 per share on the BSE
- Jewellery portfolio growth
- 21% year over year
- Combined retail network
- 3,758 stores after 78 net additions during the quarter
- CaratLane revenue growth
- 32% year over year
- Brokerage price targets
- Rs 5,425 (Nomura), Rs 5,700 (Citi), Rs 5,510 (HSBC), Rs 5,483 (Morgan Stanley) and Rs 6,000 (MOFSL)
- Rekha Jhunjhunwala stake
- 5.31% at the end of the June quarter, valued at over Rs 20,000 crore