JPMorgan cuts target for Titan stock to INR 5,540

Published on 10/08/2026 at 11:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Consumer businesses grew 25.00 percent in fiscal 2027 and added 78 stores. Titan stock gets 3,758 outlets and 22.00 percent domestic growth.

Titan, INE280A01028, Illustration mit AI erstellt.

JPMorgan cut its target for Titan stock to INR 5,540 from INR 5,650 after the company's second-quarter update, according to Latestly on October 7, 2026. The cut followed jewellery growth that trailed several brokerage expectations, even as Titan reported broad consumer expansion.

Consumer growth remains broad

The Economic Times reported that Titan's consumer businesses grew 25.00 percent year over year in the second quarter of fiscal 2027. The period ended September 30, 2026, and the update covered jewellery, watches, EyeCare and emerging businesses.

Titan added 78 net stores during the quarter, lifting its combined consumer network to 3,758 outlets as of September 2026. Domestic businesses grew 22.00 percent, while international operations expanded 97.00 percent, creating a clear contrast between the two geographic growth rates.

Jewellery growth sets the debate

Jewellery growth reached 21.00 percent year over year in the second quarter, below the broader consumer-business increase of 25.00 percent. The Economic Times said demand softened toward the end of the quarter as the festive calendar shifted into the third quarter of fiscal 2027.

The mix provides a second part of the investment debate. According to CNBC TV18, watches grew 30.00 percent and EyeCare 28.00 percent, while CaratLane increased revenue 32.00 percent in the quarter. Those figures show why the weaker jewellery comparison did not erase the wider retail expansion story.

Titan stock stays below its high

Titan traded at INR 4,371.80 on the NSE on October 8, 2026, down 0.12 percent from the prior close of INR 4,377.00. Its 52-week range was INR 3,460.00 to INR 5,186.70, and market capitalization stood at INR 3.9 trillion on the same date.

JPMorgan's target reduction adds a quantified counterweight to the operating figures, while Citi retained a INR 5,700 target and Morgan Stanley retained a INR 5,483 target, according to Latestly on October 7, 2026. For Titan stock, the next market test is whether festive demand shifts into the third quarter as expected.