Titan rallies 13% thus far in October, nears record high; here's why

Titan share price outlook: The pent-up demand from the upcoming wedding season is expected to offset the short-term moderation once the gold prices stabilise.

Shares price of Titan Company today

 

Shares of Titan Company hit a 52-week high of ₹3,797.40, as they gained 2 per cent on the BSE in Thursday’s intra-day trade on expectations of strong earnings. The Titan company stock price of the jewellery company was trading higher for the sixth straight trading day. 

 

Thus far in the month of October, Titan has outperformed the market by surging 13 per cent, as compared to 6 per cent rally in the BSE Sensex. The stock now also trades close to its all-time high of ₹3,886.95, touched on January 30, 2024.

Titan to declare Q2 results on November 3, 2025

Titan Company has informed the stock exchanges that the meeting of the board of directors of the company was scheduled on November 3, 2025, inter alia, to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2025.

 

Strong Q2 business update - Titan 

 

Titan Company’s consumer businesses registered a growth of 20 per cent year-on-year (YoY) in July to September 2025 quarter (Q2FY26). A total of 55 stores (net) were added during the quarter expanding Titan’s combined retail network presence to 3,377 stores.

 

The domestic jewellery business delivered 19 per cent growth in Q2FY26. Surging gold prices drove substantial ticket size increases offsetting marginal YoY declines in buyer counts. The impact of Q2FY25’s high base (due to custom duty reduction) was offset by an early onset of the festive season in September this year, compared to October in FY25, Titan said in the Q2 provisional business update.  ALSO READ | United Breweries shares rise 2% on quarterly business update; details here

Brokerages view on Titan

 

For Titan Company, overall standalone revenue is expected to grow ~18 per cent YoY led by 19 per cent YoY growth in jewellery business (ex-bullion). JM Financial Institutional Securities expects jewellery earnings before interest and tax (EBIT) margin of 11.1 per cent (ex-bullion sales; ~30 bps down YoY). Overall, the brokerage firm estimates standalone EBITDA/ PAT growth of 48/ 53 per cent YoY.

 

Titan Company is a leading organised jeweller in India with its trusted brand, Tanishq. It started as a watch company under the brand, Titan, and is the fifth largest integrated own brand watch manufacturer in the world.

 

According to analysts at ICICI Securities, the strong product portfolio and focus on expanding in key markets will help Titan to achieve revenue and PAT compound annual growth rate (CAGR) of 14 per cent and 23 per cent over FY25-27E.

 

The brokerage firm expects jewellery segment growth to revive in Q3/Q4 driven by festive and wedding season. The management has maintained its jewellery business margin guidance of 11-11.5 per cent. Analysts expect Caratlane to achieve high growth compared to gold jewellery in the near to medium term. Margins of the business will improve with an increase in scale of the business. For watches segment, analysts expect it continue to deliver mid-to-high teen revenue growth with EBIT margins expected to remain at 15-16 per cent in the near term.

 

Meanwhile, during the recent Shradh and festive period, Jewellery sales volumes softened temporarily as gold crossed the ₹1,20,000 per 10g mark. However, pent-up demand from the upcoming wedding season is expected to offset the short-term moderation once prices stabilise, sustaining India’s position as the world’s largest Jewellery market ahead of China, according to Motilal Oswal Financial Services Research.

 

Titan continues to exhibit strong momentum and strategic clarity, solidifying its leadership in India’s lifestyle market. In Q2FY26, overall consumer businesses grew 20 per cent year-on-year, with the jewellery segment advancing 19 per cent despite a 17 per cent increase in gold prices, driven by higher average ticket values and growing demand for premium studded collections. The international business expanded sharply by 86 per cent, supported by robust traction in key regions such as the US, the brokerage firm said with  a ‘buy’ rating on stock and target price of ₹4,150 per share.