Titan stock fell 3.71 percent after the Q2 update

Published on 10/07/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Titan stock posted 25 percent consumer-business growth in Q2 FY27 on October 7, 2026, while jewellery rose 21 percent. Nomura kept a Buy rating with an INR 5,425 target.

Titan, INE280A01028, Illustration mit AI erstellt.

Titan stock (ISIN INE280A01028) was last at INR 4,381 on the NSE on October 7, 2026, down 3.71 percent from the prior close of INR 4,550. The market reaction followed Titan's Q2 FY27 update, which showed 25 percent year-over-year growth across its consumer businesses, according to HDFC Sky on October 7, 2026.

Jewellery growth missed expectations

The quarterly update covers the period ended September 30, 2026, and the reported figures are provisional. Jewellery grew 21 percent year over year, below Nomura's 25 percent estimate, while the core Tanishq, Mia and Zoya businesses grew 20 percent, according to Financial Express on October 7, 2026.

CaratLane was the faster-growing jewellery brand at 32 percent, but the broader jewellery result carried more weight because the business remains Titan's main growth engine. The difference between 21 percent actual growth and the 25 percent estimate explains why a strong group-level update still produced selling pressure.

Stores and overseas growth expand

Titan added 78 net stores in Q2 FY27, taking its combined consumer network to 3,758 locations as of September 30, 2026. Domestic businesses grew 22 percent, while international operations increased 97 percent, a comparison that also reflects the consolidation of Damas Jewellery.

Watches grew 30 percent and EyeCare increased 28 percent during the quarter, according to The Economic Times on October 7, 2026. The figures show that Titan's operating momentum extends beyond jewellery, even as the jewellery comparison sets the tone for the stock.

Nomura keeps INR 5,425 target

Nomura retained its Buy rating and an INR 5,425 target after the update, according to The Economic Times on October 7, 2026. That target lies 23.8 percent above the INR 4,381 price, while the brokerage expects FY27 sales growth of 19 percent and EBIT growth of 23 percent.

The counter-factor is the higher comparison base in jewellery, with Nomura highlighting prior growth rates of 40 percent, 45 percent and 38 percent across the next three quarters. It also identified elevated gold prices and competition as risks to the earnings outlook.

Titan stock trades below its yearly high

Titan stock was last at INR 4,381 on the NSE at 12:52 p.m. IST on October 7, 2026. The session range was INR 4,335.60 to INR 4,440, and the 52-week range was INR 3,411 to INR 5,186.70.