Titan Shares Rise Over 1% After Strong Q1 Results, Turns Top Nifty50 Gainer Today
Titan Company shares rose more than 1% on Monday, Aug 10, making the jewellery and watches major the top gainer on the Nifty 50 after its strong June-quarter performance. The stock gained 1.5% to around ₹5,015 in early trade. Titan shares had declined 1.14% on Friday before the results. The stock has gained 22% so far in 2026, significantly outperforming the Nifty 50, which has fallen 6%. Titan’s…
Titan Company's shares surged over 1% on Monday, Aug 10, after delivering an impressive first-quarter performance. The jewellery and watches major now leads the Nifty 50 as its stock climbed 1.5% to approximately ₹5,015 in early trading. Prior to the results, Titan shares had fallen by 1.14% on Friday. The company's market value is around ₹4.39 lakh crore.
Brokerages are bullish on Titan, with Citi retaining its 'Buy' rating and raising its target price to ₹5,700. The firm highlighted a 38% rise in jewellery revenue and a 33% increase in EBIT, excluding bullion sales and one-offs. Titan's profit climbed 65%, driven by a ₹386 crore customs-duty benefit and a 75-80 basis-point mark-to-market gain.
HSBC also kept its 'Buy' rating, with a target price of ₹5,550. The bank praised Titan's strong jewellery margins despite various challenges in the quarter, with EBIT margin at 10.9% compared to 11.3% a year earlier. JPMorgan upgraded its rating to 'Overweight' and set a target of ₹5,465, noting that revenue and adjusted EBITDA surpassed market expectations, citing a 38% increase in domestic jewellery revenue.
The company's performance was boosted by Titan's gold exchange programme, lighter and lower-carat jewellery, and diamond activation. However, adjusted margins remained broadly in line with guidance. Titan reported a 65% increase in net profit for the June quarter, reaching ₹1,699 crore, while revenue growth slowed to 24.3% at ₹18,101 crore, slightly below expectations.
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