Jhunjhunwala’s Titan stake value rises to Rs 21,000 crore as Tata stock hits record after Q4 update; targets

Rekha Jhunjhunwala's Titan Company Ltd stock bet is now valued at Rs 21,000 crore, as the stock hit record high following the company's March quarter update. The Tata group firm reported 46 per cent YoY growth in jewellery business and added a total 170 stores across businesses.   

Titan shares hit a record high of Rs 4,504.15 today, breaching previous high of Rs 4,379.95 hit on February 11, 2026. The stock was later trading 6.30 per cent higher at Rs 4,497.15 apiece, with the company commanding a market capitalisation of Rs 3,99,250 crore. Rekha Jhunjhunwala held 5.31 per cent stake in the jeweller as of 2025-end. Her stake was worth Rs 21,190 crore at the prevailing price against Rs 19,944 crore on Tuesday, up Rs 1,245 crore. 
Antique Stock Broking said the jewellery segment EBIT margin has bottomed out and it expects it improve to 10.6 per cent in next three years. 

"In our view, Titan's medium to long term performance will be driven by market share gain in the jewelry business on account of strong brand name, execution, and scaling up of store network. Additionally, improving profitability of other segments would bode well for the company," Antique said while suggesting a revised target of Rs 5,149 on the stock. 

Following the Q4 update, JM Financial said it expects standalone revenue (ex-bullion) to grow
42 per cent YoY, led by 47 per cent YoY growth in jewellery business (ex-bullion). 

"We expect jewellery EBIT margin of 11.2 per cent (ex-bullion sales; down 70 bps YoY); however, this means Jewellery EBIT growth of 39 per cent YoY higher vs earlier estimate of 33 per cent YoY growth in Jewellery business. Overall, we estimate standalone Ebitda/PAT growth of 37/45 per cent YoY," JM Financial said.

MOFSL said despite a sharp rise in gold prices, buyer growth improved to high-single digits
after remaining largely flat in the previous three quarters. The company added a net 27 jewellery stores in India during the quarter: 8 stores under Tanishq, 14 stores under Mia and 5 stores under CaratLane. The brokerage maintained 'Buy' with a target price of Rs 5,200. 

Titan said its business recorded high-single digit buyer growth in Q4FY26 after clocking nearly flat buyer growths in the previous three quarters of FY26. The average ticket sizes also moved up considerably contributing to the revenue growth in the quarter. 

"Within categories, studded grew strongly in early thirties, gold (plain) clocked growth in the mid-thirties and coins nearly tripled in sales, respectively compared to Q4FY25. The like-to-like growths (secondary) across all the jewellery retail formats (combined) were
close to c.48 per cent YoY," it said.