Titan Share Price Target: Emkay Reiterates ₹3,200 Call on Tata Group Stock – Buy, Sell or Hold?

Emkay stood on its target price for Titan Company (TTAN) of Rs. 3200 with a ‘REDUCE’ rating today (9th May, 2025).

Despite volatile market conditions and increasing competition, TTAN retained its expected marginal band of 11% - 11.5%.

Titan Q4 Results FY25

The company's standalone revenue showcases a strong, robust 24% growth in Q4. Strong performance of TTAN has emerged from strong-performing segments.

“Revenue growth of ~25% in Q4 was strong and in line with the company’s business update, “ as reported by Emkay

The jewellery segment saw an enduring growth rate of 25% while the watch and eyewear showcased a stable growth rate of 16-20%.

Caratlane continued to showcase an approximate 23% growth rate.

On the other hand, some sectors and subsidiaries did not live up to the expectations. Taneira saw a decline of 4%, and TEAL saw a huge decline of approximately 24%.

In terms of regions, momentum mainly surfaced from the South and East regions, while the West and North could not sustain the same. 

Market-Related Factors

With spikes and increased volatility in gold prices, consumer sentiments were dampened. 

Along with this, lower operation disruptions and the government of India’s thrust helped in boosting consumption.

In the Lab Grown Diamond (LGD) segment, price wars may affect LGD prices and challenge the viability of operations.

“It believes new price warriors/automation may continue to disrupt LGD prices and challenge the viability of such operations,” as reported by Emkay

The opening up of 43 new retail stores is also helping in increasing retail space by approximately 16%.

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Titan Share Price Target 

Emkay anticipates high competitive intensity and a weaker revenue mix. 

Along with the risks of LGD, Emkay stood stern on its target price of Rs. 3200 with a ‘REDUCE’ rating.

“The jewellery segment, as we fear risk from high competitive intensity/weaker mix. Traction in LGD is a downside risk to our estimates.”, as reported by Emkay.

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