Titan’s beYon Launch Spurs Growth Bets, Says Motilal Oswal Maintaining 'Buy' — Check Target Price, Upside

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Motilal Oswal Report

Motilal Oswal has reiterated its Buy rating on Titan Company Ltd. with a target price of Rs 5,000, implying a potential upside of 17%, citing strong growth prospects and strategic expansion into the Lab-Grown Diamond segment through its new brand ‘beYon – from the House of Titan’.

The brokerage highlights that Titan’s entry into LGDs marks a significant diversification beyond its core jewelry brands (Tanishq, Mia, Zoya, CaratLane). The LGD category, currently accounting for only 2–4% of the studded jewelry market, offers meaningful growth potential given India’s low penetration (12–15% vs ~100% for gold) and rising gold prices.

That said, given the strong beat in Q3 FY26 business update, the brokerage raises its EPS estimates by 2-5% over FY26-FY28 and maintain Buy with a target price of Rs 5,000 (60x Mar’28 P/E).

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