Home / Business and Economy / Titan Shares Dip Amid Mixed Q2 Results, Analysts Remain Bullish
Titan Shares Dip Amid Mixed Q2 Results, Analysts Remain Bullish
8 Oct
Summary
- Titan's Q2 jewelry growth missed expectations, impacting share price.
- Analysts maintain buy ratings, citing strong studded jewelry and other segment growth.
- Domestic jewelry business grew 21% year-on-year, with studded outperforming.
Titan Company shares saw a significant drop of more than 4% on Wednesday, October 8, 2026, following its July-September quarter performance. The company's jewelry segment growth was reported at 21% year-on-year for its domestic business, which, while ahead of some consensus estimates, fell short of others. This slowdown was attributed to muted buyer growth and a shift in festive season demand.
Despite the near-term stock reaction, several brokerages have reaffirmed their positive outlook on Titan. CLSA, JPMorgan, and HSBC have maintained 'Outperform' or 'Overweight' ratings, setting target prices that suggest potential upside. Analysts pointed to strong underlying business trends, particularly the early 30s growth in studded jewelry, which significantly outperformed plain gold jewelry's approximately 20% growth.
Other business verticals also showed robust performance. Titan's watches division accelerated to 30% growth, and its EyeCare segment grew by 28%. The international business surged by an impressive 97% year-on-year. Tanishq, Mia, and Zoya collectively grew by 20%, while CaratLane reported 32% growth, indicating broad-based strength across its portfolio.
