Mumbai, Oct 1 : Shares of Titan Company Ltd have continued their impressive run, delivering nearly 10 per cent gains in the past month. Despite a minor dip of 0.16 per cent on Friday to close at Rs 3,745.20 per share on the BSE, brokerage firm Religare Broking believes the rally is far from over.
In its ‘Market Radiance’ report dated October 31, Religare maintained a ‘Buy’ recommendation on Titan with a target price of Rs 4,107, suggesting an upside potential of around 9.7 per cent from current levels. The brokerage expects this target to be achieved within the next 11 months.
Religare’s bullish stance is based on Titan’s dominant market position and consistent financial performance. The brokerage noted that Titan commands nearly 8 per cent market share in India’s jewellery sector, supported by its strong brand portfolio Tanishq, Mia, Zoya, and Caratlane. Beyond jewellery, Titan is also expanding into lifestyle segments such as watches, wearables, and eyewear, positioning itself as a diversified consumer goods leader.
For Q1FY26, Titan reported a 10.8 per cent year-on-year revenue growth, largely driven by higher average ticket sizes. The company’s EBITDA margin expanded by 77 basis points YoY, aided by a superior product mix and operational efficiencies.
Looking ahead, Religare expects Titan’s omni-channel strategy to further enhance its customer reach and fuel consumption growth in premium categories. The brokerage projects Titan’s revenue, EBITDA, and PAT to grow at a CAGR of 21.2%, 31.6%, and 35.3%, respectively, between FY25 and FY27.
With its strong fundamentals and expanding presence across consumer segments, Titan remains one of the most promising lifestyle and retail stories in India’s stock market.