08 Apr , 2026 By : Debdeep Gupta
Titan Company shares rose sharply in morning trade on Wednesday after the Tata Group firm reported a strong Q4 business update, led by robust growth in its core jewellery segment and overall consumer business. The Titan stock was trading at Rs 4,411.50 around 10 am, up 4.3 percent, placing it among the top gainers on the Nifty 50.
The gains follow the company’s Q4 update, where its consolidated consumer businesses recorded a 46 percent year-on-year growth, driven largely by the jewellery segment. The domestic jewellery business grew around 46 percent YoY, ahead of estimates, supported by strong like-to-like growth of nearly 48 percent and an improvement in buyer growth to high single digits.
Brokerages remained constructive on Titan stock following the update.
Citi retained a ‘Neutral’ rating with a target price of Rs 4,750, noting that jewellery growth beat expectations, supported by strong same-store sales and improving buyer metrics.
Goldman Sachs maintained a ‘Buy’ rating with a target price of Rs 5,000, highlighting strong jewellery growth of over 50 percent YoY, driven by both buyer additions and the studded segment. It also pointed to resilience in the international jewellery business despite challenges in West Asia, along with healthy growth in eyewear, even as watches saw some moderation.
Premiumisation trends played a key role during the quarter, contributing to higher ticket sizes, while segment-wise momentum remained broad-based. Studded jewellery grew in the early 30s, gold jewellery in the mid-30s, and coin sales nearly tripled, indicating strong demand across categories.
The company also continued to expand its retail footprint, adding 47 stores during the quarter to take its combined network to 3,603 stores. Within this, Tanishq added eight stores in India and also converted four Damas stores overseas, reflecting ongoing expansion in both domestic and international markets.
Other segments saw mixed performance. CaratLane posted 24 percent growth, while the eyecare business grew 16 percent YoY and emerging businesses rose 17 percent. The watches segment grew a modest 7 percent, indicating some moderation, while the smartwatches category saw a sharp 53 percent YoY decline.
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