{
  "id": 18465078,
  "title": "Titan surges 2.5% on strong Q2 results; brokerages divided on upside",
  "url": "https://urgent.news/2026/11/06/titan-surges-2-5-on-strong-q2-results-brokerages-divided-on-upside",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T07:49:48.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/stock-markets/titan-surges-25-on-strong-q2-results-brokerages-divided-on-upside/article71673406.ece"
  },
  "original_language": "en",
  "account": "Titan Company's shares surged 2.5% on Friday following strong second-quarter results. The jewellery-to-watches conglomerate's Q2 earnings, declared on Thursday, saw the stock reach an intraday high of ₹5,003.90, up from ₹4,953.70 earlier in the day. The surge marked a 31% increase over the past year and a 22% rise year-to-date, outperforming the Nifty 50's negative returns during the same periods. At current levels, Titan trades at a P/E of 61 times, indicating a significant premium compared to the broader market.\n\nBrokerages maintained generally bullish stances but differed in their upside expectations. Jefferies held a Buy rating with a target price of ₹6,000, citing a strong Q2 delivery despite gold price volatility and a shift in the festive calendar. Citi upgraded its target to ₹5,875 from ₹5,700, also maintaining a Buy rating, praising the company's domestic jewellery EBIT margin of 11.7%, which is 60 basis points above Citi's estimate. Motilal Oswal retained a Buy rating, targeting ₹5,700 and projecting a 15% revenue CAGR and 24% PAT CAGR through FY28. JM Financial, however, downgraded Titan to ADD, maintaining its target at ₹5,150, expressing concerns over flat buyer growth in the second half. JPMorgan held a Neutral stance with a target price of ₹5,540, noting that earnings missed estimates due to higher finance costs, while the company's operating performance exceeded expectations. Titan's Q2FY27 consolidated total income rose 25% year-on-year to ₹20,533 crore. Jewellery revenue, excluding bullion, grew 22% to ₹17,495 crore. EBITDA increased 62% to ₹2,626 crore, and PAT jumped 56% to ₹1,572 crore, partly due to a one-time customs duty gain of ₹536 crore. Watches revenue grew 27% to ₹1,881 crore, and EyeCare expanded 28% to ₹281 crore. Management reiterated its FY27 jewellery EBIT margin guidance at around 11%, indicating that they would reinvest margin gains to drive buyer growth rather than focusing on immediate profitability.",
  "summary": "The stock has gained over 31 per cent in the past year and 22 per cent year-to-date, sharply outpacing the Nifty 50’s negative returns over the same periods.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}