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Titan Share Price Target: Shares of Titan Company surged around 3 per cent on Tuesday to touch an all-time high of Rs 3,813 on the BSE after the Tata Group firm posted a robust 59 per cent year-on-year (YoY) rise in its net profit for the September quarter (Q2 FY26).

At 1:00 pm, Titan shares were trading 2.27 per cent higher at Rs 3,812 apiece, valuing the company at Rs 3,38,450.72 crore. The stock had earlier touched a 52-week high of Rs 3,822 per share during intraday trade.

For the July–September quarter, Titan reported a consolidated net profit of Rs 1,120 crore, compared with Rs 706 crore in the same period last year. Revenue from operations rose 22 per cent to Rs 16,649 crore from Rs 13,661 crore a year ago.

The jewellery business, which contributes more than 80 per cent of total revenue, recorded a 21 per cent growth to Rs 14,092 crore. This figure excludes bullion and digi-gold sales. Strong performance across Tanishq, Mia, and Zoya brands drove combined revenue growth of 18 per cent to Rs 12,640 crore, while CaratLane delivered a solid 32 per cent jump to Rs 1,072 crore.

Titan’s jewellery segment EBIT stood at Rs 1,381 crore with a margin of 11.1 per cent. “The domestic business witnessed strong consumer momentum during Navratri, aided by gold exchange offers,” the company said in its statement.

The watches division saw a 13 per cent YoY sales increase, slightly ahead of pre-quarter guidance, while the eyewear segment grew 8.5 per cent YoY. The company’s emerging businesses, including Taneira and fragrance brands, posted a 34 per cent rise in sales. Titan Engineering and Automation Ltd (TEAL) delivered a sharp 112 per cent YoY growth, with EBIT margin expanding nearly 990 basis points to 22.7 per cent.

Nomura: Maintains buy with a target of Rs 4,275. The brokerage said sales were in line with the pre-quarter update, while margins were slightly lower YoY. Strong festive demand could drive further upside, it noted.

Morgan Stanley: Retains overweight with a target of Rs 3,953. It highlighted Titan’s Q2 beat on revenue, EBITDA, and PAT. The jewellery segment rose 19 per cent YoY on higher ticket sizes, with CaratLane revenue up 32 per cent and festive demand remaining strong.

Macquarie: Keeps an outperform rating with a target of Rs 4,150, citing solid execution across divisions.

UBS: Maintains hold with a target of Rs 4,700, calling Q2FY26 an “all-round standout performance” led by 19 per cent standalone jewellery revenue growth and resilient EBIT margins despite heavy promotional activity.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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