Titan shares jumped as much as 4.7% to Rs 3,577.95 on the BSE after the company said its consumer businesses grew 20% year-on-year in the July–September quarter of FY26.
The surge in Titan shares boosted the value of Jhunjhunwala’s 5.15% stake, amounting to 4.57 crore shares held as of June 30, to roughly Rs 16,384 crore, compared with Rs 15,645.56 crore at Tuesday’s close of Rs 3,416.55 per share.
While the gain is purely notional, it reflects Titan’s enduring appeal among investors and its central place in the Jhunjhunwala portfolio, long viewed as a bellwether of India’s consumption story.
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Consumer growth broad-based
Titan’s update showed broad-based growth across businesses. The domestic segment grew 18%, while the international business surged 86% year-on-year, led by strong traction in the USA and GCC markets. Tanishq, the company’s flagship jewellery brand, added a new store in Virginia, USA, during the quarter.The jewellery segment continued to anchor growth, expanding 19% year-on-year. Within this vertical, CaratLane outpaced other brands with a 30% rise, compared with 18% for Tanishq, Mia, and Zoya. The company added 34 new jewellery stores, taking its total count to 3,377 retail outlets, alongside 15 new watch stores, five new eyewear stores, and one new international store.The emerging businesses segment, which includes Fastrack, Skinn, Taneira and Irth, posted a 37% growth. Fragrances rose 48% year-on-year, women’s bags surged 90% on the back of network expansion, and Taneira grew 13%. Irth added two new stores in Delhi and Kolkata, while Taneira closed two during the quarter.
Brokerage view
Before Titan’s quarterly update, JM Financial had flagged the company as one of its top picks in the consumer discretionary space. The brokerage expected a 14% year-on-year aggregate revenue growth for the sector in the September quarter, with EBITDA growth seen rising 21% on a weak margin base.
It maintained a ‘buy’ rating on Titan with a target price of Rs 3,950, citing structural tailwinds in the jewellery and lifestyle segments.
Titan said the reported numbers are provisional and that detailed financial results for the second quarter will follow in due course.
Also read | Titan Q2 Update: Consumer business delivers 20% YoY growth. International business jumps 86%
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