4051.7000 2.40 (0.06%)
NSE Jan 02, 2026 15:52 PM
Volume: 660.0K
 

4051.70
0.06%
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.
ICICI Direct increased Buy price target of Titan Company Ltd. to 4715.0 on 30 Dec, 2025.
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