Titan's shares surged to a record high on Tuesday, helped by a fresh rally in gold and silver prices.
Gold and Silver Rally Boosts Titan
International gold futures rose 0.7% to a new high of $4,533.60 per ounce, while silver jumped 4% to cross $75 per ounce for the first time. In India, MCX gold futures hit ₹1,38,994 per 10 grams and MCX silver futures reached ₹2,32,741 per kilogram.
Titan's Stock Performance
Following the rally, Titan's share price climbed about 2% to ₹3,977, a record level. The stock is up 35% from its 52‑week low of ₹2,948 and has risen 19% over the past year.
- 5‑year gain: 165%
- 1‑year gain: 19%
- 6‑month gain: 7%
UBS Upgrade and Target Price
Global brokerage UBS upgraded Titan from Neutral to Buy and raised its price target to ₹4,700 from ₹3,600, implying roughly 18% upside from the current level.
UBS says Titan is a strong player in the jewellery market with trusted brands and good scale. After a period of flat performance, the firm expects earnings to improve as the company moves past a margin reset that kept gold prices competitive for shoppers.
Q2 FY26 Results Support the Upgrade
In the second quarter of FY26, Titan reported a 42.7% year‑on‑year rise in net profit to ₹1,006 crore. Revenue grew 25.1% to ₹16,534 crore, and EBITDA increased 43% to ₹1,620 crore.
Operating margins improved to 9.8% from 8.6% a year earlier, though they fell short of analysts' 11% expectation. Jewellery sales, the main growth driver, rose 21% to ₹14,092 crore, excluding bullion and DigiGold.
What Investors Should Keep in Mind
Even with the recent rally, investors need to ask whether the stock still offers value or if most of the good news is already priced in. UBS sees room for further upside, but market conditions can change quickly.
Remember, this is perspective, not a prediction. Do your own research or consult a certified expert before making any investment decisions.