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Should you buy Titan shares despite gold price risks? Here's what brokerages said about Tata Group stock
Titan Company shares remain one of the preferred bets among leading domestic and foreign brokerages, with most analysts maintaining positive ratings on the Tata group company and seeing further upside from current levels.
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Titan Company shares remain one of the preferred bets among leading domestic and foreign brokerages. Image Credit: Tanishq
Written By: Anubhav Maurya
Updated: Fri, Jun 05, 2026
09:08 AM IST
09:08 AM IST
ZeeBiz WebDesk
Titan Company shares remain one of the preferred bets among leading domestic and foreign brokerages, with most analysts maintaining positive ratings on the Tata group company and seeing further upside from current levels, supported by strong growth in its jewellery business, market share gains and premiumisation trends.
Titan shares closed at Rs 4,231 on June 4, 2026, up Rs 142.20 or 3.48 per cent for the day. The company commands a market capitalisation of Rs 3.76 lakh crore.
Titan Company Share Price Targets
Among the brokerages, Goldman Sachs has the highest target price of Rs 5,400, implying a potential upside of around 27.6 per cent from the current market price.
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Morgan Stanley has maintained an 'Overweight' rating with a target of Rs 5,182, indicating an upside of about 22.5 per cent.
CLSA has retained its 'Accumulate' rating with a target of Rs 5,249, suggesting a gain potential of nearly 24.1 per cent.
Nomura has maintained a 'Buy' call and raised its target price to Rs 5,000 from Rs 4,950, translating into an upside of around 18.2 per cent. Jefferies remains relatively cautious with a 'Hold' rating and a target price of Rs 4,800, which still offers a potential upside of around 13.4 per cent.
The average target price of these five brokerages works out to around Rs 5,126, indicating an average upside potential of nearly 21.2 per cent from the current level.
Morgan Stanley sees strong jewellery growth
Morgan Stanley said Titan continues to focus on improving profitability in its jewellery business, particularly by tapping the large plain gold jewellery opportunity. The brokerage noted that gold price volatility and a weaker product mix could remain near-term challenges.
It highlighted that gold exchange transactions are expected to account for nearly 50 per cent of revenue in FY26, compared with a significantly lower contribution earlier, while also making up around 40 per cent of the company's gold sourcing.
The brokerage expects Titan's jewellery business to deliver a revenue CAGR of 19 per cent between FY26 and FY30, along with a 16 per cent EBIT CAGR. It also expects market share gains to continue, rising from 4.5 per cent in FY19 to 8.5 per cent in FY26, with a target of 11 per cent by FY30.
Goldman Sachs and CLSA positive on long-term outlook
Goldman Sachs expects Titan's consolidated revenue and EBIT to grow at around 20 per cent annually over FY26-FY30, effectively doubling during the period. It believes the company's flagship jewellery brands -- Tanishq, Mia and Zoya -- can sustain around 20 per cent annual revenue growth, although profitability may face some pressure due to product mix changes.
The brokerage also expects faster growth and margin expansion in businesses such as CaratLane, international operations including Damas, eyewear and watches. It described Titan as one of India's fastest-growing consumer companies with a consistent execution track record.
CLSA reiterated its positive stance, expecting the jewellery segment to nearly double its FY26 revenue and grow EBIT by 1.9 times by FY30. It said management commentary points to resilient consumer demand, while Titan's portfolio-led strategy across categories continues to support premiumisation and strengthen brand equity.
Jefferies cautious despite growth prospects
Jefferies acknowledged Titan's best-in-class management and execution capabilities but maintained a 'Hold' rating due to regulatory uncertainties. The brokerage expects around 20 per cent revenue and EBIT CAGR over FY26-FY30, driven by same-store sales growth, store expansion, formalisation of the jewellery market, market share gains and premiumisation.
It also highlighted cross-selling opportunities across Titan's customer base of around 50 million, supported by improving digital and CRM platforms, while international operations could provide an additional growth driver.
Titan Company Q4 Results Update
On the financial front, Titan reported a 35.36 per cent year-on-year rise in consolidated net profit to Rs 1,179 crore for the March quarter of FY26. Consolidated revenue jumped 80 per cent to Rs 26,920 crore, while sales increased 48.28 per cent to Rs 20,607 crore.
Titan Company Share Price History
The stock remains around 8.1 per cent below its 52-week high of Rs 4,605, touched on May 8, 2026. It has gained 4.02 per cent over the past week but declined 3.08 per cent in the last month.
Titan has outperformed the broader market over the longer term, delivering returns of 20.97 per cent over the past year, 48.43 per cent over three years and 152.38 per cent over five years, compared with the Nifty 50's returns of negative 5.39 per cent, 25.94 per cent and 49.43 per cent, respectively.
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Anubhav Maurya
Anubhav Maurya
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