TITAN

Yesterday, Nifty slipped below 24,400 as late profit booking ended a four-day winning streak. Gift Nifty is signalling another cautious open today at around 24,383. In a market searching for direction, stocks with concrete earnings data tend to stand out — and Titan just delivered one of the cleanest Q1 FY27 business updates on the index. The numbers: consumer business grew 41% year on year in the June quarter. Domestic jewellery revenue rose 39% YoY, with Tanishq, Mia and Zoya driving the bulk of gains. CaratLane grew 42%. International operations surged 128% YoY, with North America showing particularly strong traction. The company added 77 stores in a single quarter, taking its total retail network to 3,680 stores, of which 163 are now international. This was the quarter that included Akshaya Tritiya — a key jewellery buying event — and Titan captured it convincingly. The stock responded: Titan rose 2.60% on Monday to Rs 4,600.80, touching record highs, while the broader Nifty was flat. Year to date in 2026, Titan is up 10.8% — against a Nifty that is down 6.6% in the same period. Market cap stands at Rs 3.98 lakh crore. CLSA has maintained its Outperform rating with a target of Rs 5,249, implying around 17% upside from recent levels. On a day when markets open flat to weak, Titan's combination of fresh record highs, strong quarterly data and institutional conviction makes it one of the clearest stories on the index heading into today's session.