India's Titan gains as Citi upgrades to 'buy'

Titan

01/07/2026 05:24

** Shares of Titan Company TITN.NS rise 1.7% to 4,481.20 rupees
** Citi upgrades stock to "buy" from "neutral" with PT of 5,075 rupees, sees strong jewellery demand resilience
** Flags Titan as "outlier" in demand despite high gold prices and competition
** Brokerage introduces positive 90-day catalyst watch, citing earnings visibility
** Expects better product mix, with faster growth in studded jewellery
** Goldman Sachs warns falling gold prices could delay purchases short term
** However, brokerage sees margin expansion, cash-flow gains as key upside from lower gold prices
** Avg rating of 35 analysts on TITN at "buy"; median PT is 5,030 rupees - LSEG-compiled data
** YTD, stock up 10.6% vs Nifty 50's .NSEI 9.9% drop


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))