shares surged 4.09 per cent to ₹4,280 in afternoon trade on Wednesday, emerging as the top gainer in the index, after the jewellery-to-watches conglomerate reported stellar Q3 FY26 results that significantly exceeded analyst expectations.
The stock opened at ₹4,225 and touched an intraday high of ₹4,312.10, its new 52-week high, with robust trading volumes of 28.06 lakh shares worth ₹1,199.94 crore. The company’s market capitalisation stood at ₹3.79 lakh crore.
Titan’s consumer business grew 40 per cent year-on-year in Q3 FY26, substantially beating consensus estimates. The domestic jewellery segment, which accounts for the bulk of revenues, grew 41 per cent YoY, well above the 25 per cent growth analysts had projected.
This performance was driven primarily by a 65 per cent surge in gold prices and substantial increases in average selling prices, though buyer growth remained flat.
Brokerage houses have responded positively to the results. Goldman Sachs maintained its ‘Buy’ rating and raised the target price to ₹4,850, citing sharp revenue acceleration across all segments. Nomura also retained its ‘Buy’ rating with a target of ₹4,500, terming the performance a “significant beat.” However, Citi maintained a ‘Neutral’ stance with a target of ₹4,125.
The company added 56 stores during the quarter, expanding its retail network to 3,433 stores. Its international business grew 79 per cent YoY, led by strong performance in GCC, Singapore and North America markets. The watches division grew 13 per cent YoY, while eyecare and emerging businesses expanded 16 per cent and 14 per cent respectively.
Analysts highlighted that gold coins sales nearly doubled YoY, while studded jewellery grew in the mid-twenties. JM Financial estimates standalone EBITDA and PAT growth of 60 per cent and 64 per cent YoY respectively. The company also launched ‘beYon’, its lab-grown diamond jewellery brand, during the quarter.