Titan Company Ltd, part of the Tata Group, saw its stock rise nearly 4% on Wednesday following a strong business update for the July–September quarter (Q2 FY26). The company reported solid 20% year-over-year growth across its consumer businesses, reflecting continued demand for jewellery, watches, and accessories.

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Jewellery Segment Leads the Growth Retail Expansion Strengthens Market Presence Mixed Performance Across Other Divisions

In early trade, Titan shares were trading at ₹3,548.9, up 3.8% from the previous close of ₹3,418 on the NSE. Over the past year, the stock has fluctuated between ₹2,925 and ₹3,748, currently maintaining a price-to-earnings (P/E) ratio of 81.7 and a dividend yield of 0.32%.

Jewellery Segment Leads the Growth

The company’s domestic jewellery business remained the biggest growth driver, with a 19% year-on-year increase in sales. Brands like Tanishq and CaratLane reported double-digit growth, showing consistent consumer demand despite higher gold prices.

Titan mentioned that the rise in gold prices boosted average ticket sizes, even though the number of buyers saw a slight dip. The company also noted that the early start of the festive season in September helped support sales momentum during the quarter.

The jewellery division continues to be Titan’s strongest pillar, contributing significantly to its overall revenue growth.
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Retail Expansion Strengthens Market Presence

During Q2FY26, Titan added 55 new stores, taking its total retail network to 3,377 outlets across India. This expansion reinforces Titan’s strong offline presence and commitment to reaching new markets.

The company’s growing retail footprint has helped it tap into both urban and semi-urban demand, especially in jewellery and accessories. This strategy continues to position Titan as one of India’s most trusted and widespread lifestyle retailers.

Mixed Performance Across Other Divisions

Titan’s watches division posted a 12% year-on-year growth, driven mainly by solid demand in the analogue segment. However, the smart wearables category saw a 23% decline, reflecting increasing competition and changing market trends.

The EyeCare segment delivered 9% growth, supported by the strong performance of international eyewear brands and rising online sales. Among its emerging businesses, fragrances grew 48%, women’s bags surged 90%, and Taneira (ethnic wear) recorded 13% growth during the quarter.

These figures highlight Titan’s ability to diversify its portfolio and maintain strong growth across multiple lifestyle categories.

Analysts’ Take on Titan’s Q2 Growth

A market analyst, speaking to CNBC TV18, said Titan’s quarterly performance remains commendable given its massive operational base, even though smaller competitors like Kalyan Jewellers and PNG Jewellers reported faster growth rates.

The analyst added that rising gold prices have been a key factor driving higher ticket sizes and overall revenue, benefiting large jewellery players like Titan.

Despite stiff competition, Titan continues to show resilience and leadership in India’s premium consumer market.

Looking Ahead

With a strong festive season ahead and steady growth across its core businesses, Titan is well-positioned to maintain its upward trajectory. Its expansion strategy, product innovation, and brand trust continue to drive investor confidence.

The company’s Q2FY26 update underlines its consistent growth momentum and ability to adapt to shifting consumer trends, keeping Titan among the top-performing lifestyle and jewellery brands in India.

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