Titan Share Price Jumps 4% After Strong Q2 FY26 Results: Jewellery Growth Drives Market Optimism

Titan Company’s stock rose nearly 4% today after the company released its Q2 FY26 business update. The numbers show strong momentum across jewellery, watches, and emerging categories, supported by festive demand and retail expansion.

Jewellery Growth Leads Titan’s Q2 Performance

Jewellery remains the clear growth engine for Titan. The segment grew around 19% year-on-year despite high gold prices. This growth was powered by:

• Higher ticket sizes as gold prices surged
• Early festive season in September (vs. October last year)
• Aggressive promotions and exchange offers that drove footfalls

Within jewellery, studded pieces from Tanishq, Mia, and Zoya grew in mid-teens, outpacing plain gold jewellery. Gold coins maintained strong demand, reflecting investment buying trends. CaratLane stood out with nearly 30% growth, driven by its digital-native strategy. Like-for-like growth for both Tanishq and CaratLane was in double digits, showing strength beyond store expansion.

Titan also opened 34 new jewellery stores in the quarter, including India’s first “Rivaah” wedding destination store in Delhi. This store focuses entirely on bridal jewellery, an area with significant untapped potential.

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Titan Watch Segment Maintains Steady Growth

Titan’s watches segment grew around 12% year-on-year, led by the analog segment, which recorded 17% growth. Festive demand supported strong volume offtake for core watch brands.

Smart wearables, however, declined by about 23%, mirroring the broader slowdown in the category. While Titan has entered this space, it still trails specialized tech players. The company added 15 watch stores in the quarter:

• 5 Titan World
• 7 Helios
• 3 Fastrack

EyeCare and New Lifestyle Categories Gain Momentum

Titan’s EyeCare business grew 9%, supported by sunglasses, international brands, and online sales. The company also expanded its ‘Runway’ retail format with 5 new stores.

In emerging categories, performance was impressive:

• Fragrances: ~48% growth, led by Fastrack and Skinn
• Women’s Bags: ~90% growth, driven by store expansion
• Taneira (ethnic wear): 13% growth

While these segments are still small in Titan’s overall mix, their growth indicates strong diversification beyond core categories.

Titan International Business Shows Strong Expansion

The international business grew around 86% year-on-year. This was led by Tanishq more than doubling its US business and strong growth in the GCC region. Titan opened a new Tanishq store in Virginia, bringing its total international store count to 32.

The US market is high-value and relatively underpenetrated by Indian jewellery brands. Titan’s expansion here signals a focused long-term strategy.

Titan Expands Retail Network Across Segments

Across all categories, Titan added 55 stores (net) during the quarter, taking its total footprint to 3,377 stores. This expansion highlights Titan’s strategy to strengthen its presence across India while building scale internationally.

Why Titan Stock Rose After Q2 Update

The market reaction reflects investor confidence in three core themes:

• Jewellery momentum: Strong double-digit growth in a high-gold-price environment
• Festive demand tailwinds: Early festive season and smart promotions boosted sales
• Expansion and diversification: Consistent store additions and growth in new segments show long-term ambition

Jewellery contributes the majority of Titan’s profits, so sustained growth here typically drives stock sentiment. Combined with the festive quarter ahead, the street is factoring in continued strong performance.

Bottom Line: Titan Positioned Well for Festive Season

Titan has once again shown why it’s viewed as a premium compounder in the Indian market. Jewellery is leading from the front, watches remain steady, emerging categories are growing fast, and international expansion is accelerating. With consumer sentiment holding up, Titan looks well placed for a strong second half of FY26.

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