Titan Share Price: Nuvama downgrades stock after Q1 results, raises target price

$TITAN n Company shares came under pressure on Friday after brokerage firm Nuvama downgraded its rating on the stock from ‘BUY’ to ‘HOLD’, despite raising its target price. The brokerage has revised its target to Rs 5,241 from the earlier Rs 5,030. Titan shares ended Friday’s trading session at ₹4,944, down 1.08 per cent. The stock has delivered a strong return over the past year, gaining 42.88 per cent. According to Nuvama, the sharp run-up has reduced the room for further upside from current levels. The brokerage’s cautious stance comes despite a strong performance by Titan in the first quarter of FY27. The company reported a 36 per cent year-on-year increase in revenue, while EBITDA climbed 57 per cent. Net profit also jumped 65 per cent during the quarter.