Titan outlined ambitious revenue/EBIT growth guidance of 20% CAGR over FY26-30 in its 2026 Investor's meet. Rising gold prices, expected rise in the inflation and government steps on curb gold consumption will have some impact on the near-term performance (likely for H1FY27). However, Titan's improving market share in the domestic jewellery space and strong balance sheet will help it to sail through tough time. Titan's ambitious growth guidance provides an upside risk to our earnings estimates for FY27 and FY28. We will take the cognizance of...