Tata Group’s Titan Company shares tanked nearly 6 per cent on Tuesday despite recording a 20 per cent y-o-y growth in consumer business during Q1FY26. However, majority of brokerages seemed to remain optimistic on the stock.
Citi has maintained a neutral call at ₹3,800 target price, while CLSA has maintained an outperform call at ₹4,236.
Domestic brokerage Motilal Oswal has maintained buy at a target price of ₹4,250. Like-for-like (LFL) domestic growth for Tanishq, Mia, and Zoya (TMZ) remained in low double digits, driven by ticket size growth across formats, the brokergae added.
Meanwhile, Morgan Stanley has an overweight rating at ₹3,876, citing that the June quarter was a big miss for the jewellery segment’s growth.
Taking cues from global sentiments, gold prices have risen over the past two quarters. Jewellery domestic operations grew 18 per cent y-o-y (against the estimates of 22 per cent y-o-y) marked by gold price volatility impacting consumer sentiments, the company said.
The domestic watches business rose 23 per cent y-o-y, driven by strong analog performance in both volume and value. Sonata (with refreshed offerings) topped growth charts, followed by Titan.
EyeCare’s domestic business grew 12 per cent y-o-y, led by performances across retail and e-commerce.
In emerging businesses, fragrances increased 56 per cent y-o-y, the women’s bag segment zoomed 61 per cent and Taneria revenue rose 15 per cent.
The international business soared 49 pe cent y-o-y, led by near doubling of Tanishq’s US business.
Titan stock traded 5.20 per cent lower on the BSE at ₹3,476.30 as at 10.05 am, hitting an intraday low of ₹3,457.25 against the previous close of ₹3,666.85.
Published on July 8, 2025
