3983.7000 -8.30 (-0.21%)
NSE Dec 29, 2025 15:31 PM
Volume: 1.2M
 

3983.70
-0.21%
ICICI Securities Limited
We are surprised at consensus' surprise about Titan's Jewellery margin glide path. We reiterate our view - Tanishq needs to reduce price premium (on gold, on making charges) to drive growth (see reports - link 1, 2). In 1QFY24, revenue growth in Jewellery at 19% YoY (22% SSSG) was healthy but must be seen in the context of 10% YoY retail expansion and 17% YoY inflation in gold price.
Titan Company Ltd. has an average target of 4021.00 from 7 brokers.
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