- Shares of Titan Co Ltd hit a lifetime high, trading at Rs 4256.40 after quarterly results
- Jewellery division grew 41% YoY in Q3FY26, contributing about 85% of the business
- Domestic watch business grew 13%, but smart watches declined 26% YoY due to lower volumes
Shares of Titan Co Ltd. surged 4% on Wednesday with the stock currently hitting a lifetime high. The stock is currently trading at Rs 4256.40 apiece. The stocks are bullish after the company shared its robust quarterly updates on Tuesday.
According to the latest quarterly updates, the Tata Group firm said its jewellery division, which contributed around 85% of its business, "clocked a robust 41% YoY growth in Q3FY26".
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During the reporting quarter, its flagship jewellery brand Tanishq deployed a gold exchange offer to navigate the elevated gold price environment and sustained consumer engagement beyond the traditional festive window.
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Studded jewellery also clocked its best performance for FY26. During the quarter under review. In FY25, revenue from operations of Titan, a joint venture between the Tata group and the Tamil Nadu government, was at Rs 57,339 crore, in which its jewellery division contributed Rs 46,571 crore, up over 81% year-on-year.
Its domestic watch business clocked a growth of 13%, driven by the analogue clock sales, which reported a 17% growth, helped by festive demand. However, Titan's "smart watches category declined 26% YoY, led by lower volumes. The division added 22 new stores, consisting of 9 stores in Titan World, 9 stores in Fastrack, 3 in Helios and 1 store in Helios Luxe. Titan's eye care business grew 16% in domestic sales.
In the emerging businesses, the fragrance vertical grew 22%, led by double-digit volume growth in Fastrack and Skinn brands.
Its women's bags category grew two-fold (111%), led by network expansion. However, sales of its Indian dresswear business, Taneira, declined by 6% YoY.
Titan revenue grows 40% on elevated gold prices in Q3
Titan Share Price Today
The scrip fell as much as 4.09% to Rs 4256.40 apiece. This compares to a 0.17% decline in the NSE Nifty 50 Index.
Total traded volume so far in the day stood at 0.72 times its 30-day average. The relative strength index was at 76.02
Out of 37 analysts tracking the company, 29 maintain a 'buy' rating, six recommend a 'hold' rating, and two maintain a 'sell' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 4316.22 implies an upside of 20.2%.
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