$TITAN , one of Rakesh Jhunjhunwala’s most famous investments, has made a remarkable comeback in 2026 after nearly two years of muted returns. The stock has added nearly ₹80,000 crore in market value this year, driven by stronger jewellery demand, continued formalisation of the jewellery industry and Titan’s execution across its key brands. What is driving the turnaround? Q1 FY27 net profit: ₹1,777 crore, up 63% YoY Total income excluding bullion & digi-gold: ₹20,753 crore, up 40% YoY Jewellery business: ₹18,253 crore, up 43% YoY India jewellery revenue: ₹16,943 crore, up 38% YoY International jewellery revenue: ₹1,309 crore, up 136% YoY Watches revenue: ₹1,543 crore, up 21% YoY Eyecare revenue: ₹289 crore, up 21% YoY The core jewellery business remains the biggest growth engine. Tanishq, Mia and Zoya together grew 38%, while CaratLane delivered 40% growth. The shift from unorganised to organised jewellery players continues to work in Titan’s favour. Another important factor has been stability in gold prices. When gold prices are highly volatile, consumers often postpone purchases. Greater stability can support both wedding and discretionary jewellery demand.

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