Titan shares up 10% in a month; here's why Religare sees further 10% upside
The brokerage has set a target price of Rs 4,107 for the stock, implying a further upside of approximately 9.7 per cent from its current levels.
- Nov 1, 2025,
- Updated Nov 1, 2025 11:16 AM IST
Shares of Titan Company have delivered strong returns to investors, gaining nearly 10 per cent in the last month alone. Despite a minor dip on Friday, where the stock closed 0.16 per cent lower at Rs 3,745.20 apiece on the BSE, brokerage firm Religare Broking sees more steam left in the rally.
In its ‘Market Radiance’ note dated October 31, Religare has maintained a ‘Buy’ recommendation on the consumer goods major. The brokerage has set a target price of Rs 4,107 for the stock, implying a further upside of approximately 9.7 per cent from its current levels. This investment call comes with a time horizon of up to 11 months.
Religare's optimism is pinned on Titan's robust market position and strong financial outlook. The note highlights Titan as one of the leading players in the jewellery category, holding an approximate 8 per cent market share with a powerful portfolio of brands including Tanishq, Mia, Zoya, and Caratlane. The firm also identifies Titan as an emerging lifestyle player with a growing presence in segments like watches, wearables, and eye care.
During Q1FY26, Titan's revenue climbed 10.8 per cent year-on-year, a growth mainly driven by ticket size improvement. Its EBITDA margin also saw a healthy expansion, improving by 77 basis points year-on-year, aided by operating leverage benefits and better product mix in jewellery".
Looking ahead, Religare believes Titan's omni-channel expansion will provide seamless access to customers and pave the way for future consumption in the lifestyle space. The brokerage projects a stellar financial performance, forecasting the company's revenue, EBITDA, and PAT to grow at a CAGR of 21.2 per cent, 31.6 per cent, and 35.3 per cent respectively over the FY25-27 estimate period.
Shares of Titan Company have delivered strong returns to investors, gaining nearly 10 per cent in the last month alone. Despite a minor dip on Friday, where the stock closed 0.16 per cent lower at Rs 3,745.20 apiece on the BSE, brokerage firm Religare Broking sees more steam left in the rally.
In its ‘Market Radiance’ note dated October 31, Religare has maintained a ‘Buy’ recommendation on the consumer goods major. The brokerage has set a target price of Rs 4,107 for the stock, implying a further upside of approximately 9.7 per cent from its current levels. This investment call comes with a time horizon of up to 11 months.
Religare's optimism is pinned on Titan's robust market position and strong financial outlook. The note highlights Titan as one of the leading players in the jewellery category, holding an approximate 8 per cent market share with a powerful portfolio of brands including Tanishq, Mia, Zoya, and Caratlane. The firm also identifies Titan as an emerging lifestyle player with a growing presence in segments like watches, wearables, and eye care.
During Q1FY26, Titan's revenue climbed 10.8 per cent year-on-year, a growth mainly driven by ticket size improvement. Its EBITDA margin also saw a healthy expansion, improving by 77 basis points year-on-year, aided by operating leverage benefits and better product mix in jewellery".
Looking ahead, Religare believes Titan's omni-channel expansion will provide seamless access to customers and pave the way for future consumption in the lifestyle space. The brokerage projects a stellar financial performance, forecasting the company's revenue, EBITDA, and PAT to grow at a CAGR of 21.2 per cent, 31.6 per cent, and 35.3 per cent respectively over the FY25-27 estimate period.