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61% Profit in Q3: Titan share price hits life high as brokerages retain Overweight and Buy calls
Titan Share Price: Nomura retained its ‘Buy’ rating with a target of Rs 4,500. It said consolidated revenue and EBITDA growth of 42 per cent and 41 per cent year-on-year were strong. Nomura noted sustained momentum in analog watches and improving traction in jewellery margins.
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61% Profit in Q3: Titan share price in focus as brokerages retain Overweight and Buy calls
Written By: Abhay Shukla
Updated: Wed, Feb 11, 2026
11:29 AM IST
11:29 AM IST
New Delhi, ZeeBiz WebDesk
Titan share price: Shares of Titan Company rose more than 1 per cent on the NSE on Wednesday, February 11, to hit life high of Rs 4,378.40, after the Tata Group firm reported a strong set of December quarter results. The performance was driven by robust festive demand and sustained momentum in its jewellery business.
The company posted a consolidated net profit of Rs 1,684 crore for the October-December quarter of FY26, up 61 per cent from Rs 1,047 crore in the year-ago period. Revenue from operations rose 43 per cent year-on-year to Rs 25,416 crore, compared with Rs 17,740 crore in the corresponding quarter last year.
The earnings were announced after market hours on Tuesday.
TRENDING NOW
Jewellery drives blockbuster quarter
Titan’s jewellery business delivered exceptional growth despite elevated gold prices. The jewellery portfolio grew 42 per cent year-on-year to Rs 22,517 crore (excluding bullion and digi-gold sales), driven by festive collections, exchange programmes and wedding demand.
The company said its India business recorded one of its highest-ever quarterly growth performances, excluding the Covid period. Growth was supported by strong festive buying, attractive coin offers and visible brand campaigns across its portfolio.
Its key brands — Tanishq, Mia and Zoya — together grew 40 per cent to Rs 19,921 crore. The overall India jewellery business rose 41 per cent year-on-year to Rs 21,458 crore.
Store expansion continued during the quarter, with a net addition of 49 jewellery stores. Of these, 47 were added in India across formats including CaratLane, Mia and Tanishq. Tanishq also opened two new stores in the US — Boston and Orlando.
Gold prices remained elevated during the quarter. Spot gold rose nearly 12 per cent in the period, capping a calendar year that marked the sharpest annual rise since 1979 amid geopolitical tensions and rate cuts. Despite this, Titan managed to sustain strong demand momentum.
However, jewellery margins were lower by 50 basis points year-on-year due to a higher mix of gold coins, softer studded margins and increased marketing spends.
Watches segment steady, wearables under pressure
Titan’s watches portfolio grew 14 per cent year-on-year to Rs 1,295 crore, aided by festive gifting and rising preference for analog watches.
The third time's the charm, Q3 is definitely charming with numbers. ✨
While Q3 is usually the stretch where companies catch their breath, we found our second wind. The momentum is real as we head into Q4 with a focus on delivering value across the board.
Check the link in the… pic.twitter.com/oxdYdZSYTg
— Titan Company Limited (@TitanCompanyLtd) February 10, 2026
The analog segment recorded 20 per cent growth in consumer sales, with healthy same-store-sales growth across retail formats. Premiumisation trends continued across Titan, Fastrack and Sonata brands, all delivering double-digit growth.
Smart watches, however, saw demand moderation. Volumes declined 27 per cent year-on-year amid stable pricing in the segment.
EyeCare and emerging businesses
The EyeCare segment reported healthy demand, led by double-digit growth in lenses and sunglasses. The company said growth was supported by high single-digit volume expansion and mid-single digit increase in average selling prices.
Among emerging businesses, women’s bags and fragrances saw strong growth, while Taneira remained impacted by volume decline.
What should investors do?
Morgan Stanley maintained its ‘Overweight’ rating with a target price of Rs 4,062. The brokerage said revenue, EBITDA and profit were ahead of its estimates and consensus. It highlighted strong jewellery growth, aided by exchange programmes launched in September 2025 and festive collections. However, it flagged a slight margin dip in jewellery.
Nomura retained its ‘Buy’ rating with a target of Rs 4,500. It said consolidated revenue and EBITDA growth of 42 per cent and 41 per cent year-on-year were strong. Nomura noted sustained momentum in analog watches and improving traction in jewellery margins.
Titan share price
Shares of Titan Company were trading at Rs 4,297.10 apiece at around 9:45 AM, up Rs 28.00 or 0.66 per cent for the day. The stock opened at Rs 4,350.00 and touched an intraday high of Rs 4,378.40, which also marked its 52-week high. The day’s low stood at Rs 4,294.00.
The company’s market capitalisation was at Rs 3.82 lakh crore. Over the past one year, the stock has traded between a 52-week low of Rs 2,925.00 and a high of Rs 4,378.40.
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Abhay Shukla
Abhay Shukla
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