Titan: Rekha Jhunjhunwala Gains ₹600 Crore Within Minutes After Q2 Update — Is the Stock Worth a Look?

Jhunjhunwala’s Titan Stake Rises Sharply

As of June 30, Rekha Jhunjhunwala held a 5.15% stake in Titan, valued at ₹15,620.8 crore on Tuesday. Within minutes of trading, Titan’s market capitalization touched ₹3.14 lakh crore, taking the value of her stake to ₹16,221 crore — an increase of ₹601 crore in notional wealth.

At 9:45 AM, Titan’s stock traded 4.11% higher at ₹3,556.80, outperforming the broader markets following its exceptional quarterly update.

Q2 Update: Strong Growth Across Segments

Titan reported a 20% year-on-year consolidated sales growth (excluding bullion) for the September quarter, far surpassing Nomura’s 12.5% growth estimate.

The domestic jewellery segment alone posted a 19% YoY rise, despite facing multiple headwinds — including a high comparison base from last year, elevated gold prices (up 43% YoY), and the Shradh period that typically slows demand.

Nomura highlighted that Tanishq, Titan’s flagship jewellery brand, saw higher average ticket sizes due to rising gold prices, which helped offset a minor dip in footfalls. The early onset of festive buying also boosted sales momentum.

“Early festive demand and higher ticket sizes drove strong growth despite muted footfalls,” Nomura stated, giving Titan a target price of ₹4,275.

Brokerages Turn Bullish on Titan

Several leading brokerages have maintained a bullish outlook on Titan following the Q2 update:

• JM Financial expects 48% YoY EBITDA and 53% YoY PAT growth for Q2 FY25, projecting strong festive demand to sustain momentum.

• Motilal Oswal Financial Services (MOFSL) has set a target price of ₹4,150, citing aggressive marketing, festive offers, and exchange schemes that helped offset high gold prices.

• Antique Stock Broking remains upbeat with a Buy recommendation and a target price of ₹4,615, valuing Titan at 60x P/E on 1HFY28 estimates — a 9% premium to its five-year average.

Despite a 23% YoY decline in smart wearables, analysts noted robust international performance, with Tanishq doubling its US business and achieving 86% overall growth overseas.

What Makes Titan a Strong Bet?

Titan continues to showcase resilience, brand power, and premium positioning in India’s luxury and lifestyle segment. With gold prices climbing and festive sentiment strengthening, analysts believe Titan is well-placed to deliver sustained growth.

The company’s diversification across jewellery, watches, eyewear, and smart wearables ensures balanced revenue streams even amid sectoral challenges.

Conclusion

Rekha Jhunjhunwala’s ₹600 crore windfall reflects more than just a single-day gain — it highlights Titan’s enduring strength and market confidence. With strong Q2 performance, rising festive demand, and bullish broker projections, Titan remains a top pick in the consumer discretionary space for long-term investors.