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India's Jewelers Shine: Titan & Kalyan Lead 2026 Boom
8 Jan
Summary
- Motilal Oswal names Titan, Kalyan top 2026 bets amid luxury surge.
- Titan eyes fashion segment with lower-priced lab-grown diamonds.
- Kalyan Jewellers sees strong sales growth and expansion.
As of January 8, 2026, India's financial markets are poised for growth, bolstered by domestic investors who infused nearly $90 billion last year, counteracting global headwinds. Motilal Oswal Financial Services has pinpointed Titan Company and Kalyan Jewellers as prime beneficiaries of India's expanding per capita income and evolving luxury consumption patterns, projecting significant upside potential for these key B2C players.
Motilal Oswal has issued a 'Buy' rating for Titan Company with a target price of Rs 5,000, forecasting a 17% increase. The brokerage highlights Titan's strategic entry into the lab-grown diamond market with its 'beYon' brand, offering diamonds at Rs 23k-25k per carat to capture a new lifestyle segment. This move leverages Titan's established 'House of Titan' ecosystem to cater to evolving retail habits.
Kalyan Jewellers India is also rated 'Buy', with a target of Rs 650, suggesting a 25% potential upside. The company reported a remarkable 42% consolidated sales growth in Q3, driven by strong festive demand and the addition of 21 new showrooms. Analysts note a healthy 27% same-store sales growth, demonstrating resilience across product categories as the wedding season fuels further expansion.
