Titan reports 25.00 percent second-quarter growth and Nomura keeps Titan stock Buy

Published on 10/09/2026 at 12:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Titan added 78 stores in the September quarter. Nomura's INR 5,425 target covers Titan stock after the second-quarter FY 2026-27 update.

Key points in brief

Titan reported 25.00 percent year-on-year consumer-business growth in the second quarter of FY 2026-27.
The company added 78 stores, reaching 3,758 outlets as of September 2026.
Nomura retained a Buy rating with an INR 5,425 target after the update.
Titan was last at INR 4,410.00 on the NSE on October 9, 2026, plus 1.16 percent versus the prior close.

Titan, INE280A01028, Illustration mit AI erstellt.

Titan reported 25.00 percent year-on-year growth in consumer businesses for the second quarter of fiscal 2026-27, while The Economic Times reported on October 7, 2026 that Nomura retained its Buy rating and an INR 5,425 target for Titan stock. The update puts operating growth beside a clear valuation test.

Consumer growth stays broad

According to Business Standard on October 7, 2026, Titan's revenue grew 25.00 percent year on year in the September quarter, compared with more than 40.00 percent growth in each of the preceding three quarters. That is a quantified slowdown in pace, even as the business continued to expand.

Jewelry, Titan's largest division, grew 21.00 percent in the quarter, while watches increased 30.00 percent and EyeCare rose 28.00 percent, Business Standard said. CaratLane grew 32.00 percent, giving Titan a faster-growing digital jewelry channel alongside its core portfolio.

Stores add scale to the update

Titan added 78 net stores during the quarter, taking its combined consumer network to 3,758 outlets as of September 2026. Domestic businesses grew 22.00 percent and international operations advanced 97.00 percent, according to HDFC SKY on October 7, 2026.

The jewelry network added 42 stores to reach 1,269, while the watches division added 34 stores and reached 1,379. The figures show that Titan's growth came from both same-business demand and physical expansion.

What does the target imply?

Nomura's INR 5,425 target stands 23.02 percent above the INR 4,410.00 NSE price used for the comparison, calculated in the same currency. The brokerage also cited a high comparison base for jewelry growth and elevated gold prices as risks to future expansion, according to The Economic Times.

Titan stock rises on the NSE

Titan was last at INR 4,410.00 on the NSE on October 9, 2026 at 3:15 p.m. IST, plus 1.16 percent versus the prior close of INR 4,359.50. The 52-week NSE range was INR 3,401.00 to INR 5,186.70 on October 6, 2026, placing the latest price below the yearly high. The further course of trading is shown by the continuously updated real-time quote of Titan stock.