Titan Shares Trade Higher As Jefferies, Citi Hike Target Price After Q1 Results
Shares of Titan rose as much as 1.26% to Rs 3,458.80 apiece. They pared gains to trade 0.42% higher at Rs 3,430 apiece, as of 9:40 a.m.
Shares of Titan Co. rose over 1% on Friday as brokerages Citi and Jefferies hiked the target price for the stock after the announcement of the first-quarter earnings.
Citi maintained a 'buy' rating for Titan with the target price hiked to Rs 3,900 from Rs 3,800, as growth and profitability were in-line. Meanwhile, Jefferies maintained a 'hold' rating for Titan with the target price hiked to Rs 3,800 from Rs 3,600.
The company's consolidated net profit rose 52.6% in the first quarter of financial year 2026, beating analysts' estimates. The luxury products manufacturer's bottom line increased to Rs 1,091 crore in the April-June period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had shared a consensus estimate of Rs 936.7 crore.
Titan Share Price
Shares of Titan rose as much as 1.26% to Rs 3,458.80 apiece. They pared gains to trade 0.42% higher at Rs 3,430 apiece, as of 9:40 a.m. This compares to a 0.34% decline in the NSE Nifty 50.
The stock has risen 4.25% in the last 12 months and 5.61% year-to-date. Total traded volume so far in the day stood at 0.81 times its 30-day average. The relative strength index was at 65.92.
Out of 36 analysts tracking the company, 26 maintain a 'buy' rating, six recommend a 'hold' and four suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 12.8%.
