Shares of Tata Group’s Titan Company Ltd. gained as much as 4% on Wednesday, January 7, in reaction to its December quarter business update which was reported after market hours Tuesday.
The company reported 38% domestic sales growth in the third quarter compared to the same quarter last year, it said in an exchange filing.
Titan’s core jewellery business grew 41% year-on-year, with brands such as Tanishq, Zoya and Mia growing 40% from last year, while CaratLane grew 42% during the same timeframe.
Growth in Titan’s topline was driven by an increase in the average selling price, which offset the flattish buyer growth. The company also highlighted that the sales of Gold coins nearly doubled compared to the third quarter of financial year 2025.
While plain gold grew in the late-30s, the studded business saw its best performance in financial year 2026 so far, growing in the mid-twenties, Titan’s filing stated.
Apart from the jewellery business, the Watches business grew by 13% in the third quarter, led by Analog Watches, as the Smart Watches category saw a 26% decline during the quarter.
Titan’s Eyecare business grew by 16% year-on-year, while the emerging business grew by 14%. The international business saw a growth of 79% from the year-ago period.
Brokerage firm Goldman Sachs raised its price target on the stock to ₹4,850 from ₹4,500 earlier. This is the second-highest price target on the street for the stock.
Nomura maintained its “buy” rating with a target of ₹4,500, while Citi remains “neutral” on the stock with a target of ₹4,125.
29 out of the 37 analysts covering the stock have a “buy” rating, six others say “hold”, while two others have a “sell” rating.
Shares of Titan Company are trading 4.1% higher on Wednesday at ₹4,281, making a new record high of ₹4,290 during the trading session. The stock has risen 10% in the last one month.
