Titan Company500114Jewellery and watches
Brokerages Morgan Stanley, Citi and JP Morgan reacted to Titan's weaker-than-expected Q2 update, with mixed target price revisions but largely maintained positive ratings
- Morgan Stanley target price
- Rs 5483
- Citi target price
- Rs 5,700
- JP Morgan revised target price
- Rs 5540
- JP Morgan previous target price
- Rs 5650
- Domestic jewellery ex-coin growth
- 20 percent
Heard on business television between 08:58:10 - 09:01:10 IST.
- Morgan Stanley maintained Overweight with target price Rs 5483; said Q2 was weaker than expected in India jewellery business, with overall growth below expectation, but better mix could aid margins and bio growth momentum continued; sees near-term correction as a buying opportunity.
- Citi maintained Buy with target price Rs 5,700; said studded mix was a positive, but festive season shift and gold coin sales (on high base) weighed on growth; domestic jewellery ex-coin grew 20% versus estimate of 27%, global prices up 46%; coin sales estimated at 24-25%, studded jewellery growth accelerating to early 30s versus 20% for plain gold, seen as key positive for margins.
- JP Morgan maintained Overweight but cut target price to Rs 5540 from Rs 5650, expecting negative stock reaction post Q2 revenue miss; flagged management commentary on festive demand and margin delivery as key monitorables.
- Mahima Johnson summarized that overall Titan's Q2 was not better than expected due to the festive season shift into Q3.
- Anchors discussed that if the stock falls to around Rs 4350 on open, it could be worth a look given it's a good company.
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Also from Titan Company
Titan reported a strong Q2 business update with domestic growth of 22%, though the stock was down about 4% as festive season shift to Q3 impacted demand
7 Oct 2026
Titan's Q2 results showed 22% overall growth but a slip versus street's mid-20s to low-30s expectations due to weak gold coin demand and festive season shift
7 Oct 2026
Titan fell on weak Q2 numbers as festive season demand is seen shifting to Q3, while Kalyan Jewelers is seen growing faster
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Source: Live TV News Channel · 7 Oct 2026
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