Rekha Jhunjhunwala Mints Over Rs 700 Crore in Minutes on Titan Q2 Update. Should you buy?

Rekha Jhunjhunwala, custodian of one of India’s most influential investment portfolios, saw her notional wealth in Titan Company swell by about Rs 739 crore within minutes on Wednesday as the stock rose nearly 5% after the company’s strong Q2 update.

Titan shares rose as much as 4.7% to Rs 3,577.95 on the BSE after the company said its consumer businesses grew 20% in the July-September quarter of FY26.

The increase in Titan’s shares increased the value of Jhunjhunwala’s 5.15% stake, amounting to 4.57 crore shares held as of June 30, to around Rs 16,384 crore, compared to Rs 15,645.56 crore at Tuesday’s close of Rs 3,416.55 per share.

While the gain is purely notional, it reflects Titan’s enduring appeal among investors and its central place in the Jhunjhunwala portfolio, long seen as a bellwether of India’s consumption story.

Also read: Vijay Kedia buys on dips, acquires Rs 11 crore ping in Smallcap Company via bulk deal

Consumer growth broadly based

Titan’s update showed broad growth across companies. The domestic segment grew 18%, while the international business rose 86% year-on-year, led by strong traction in the US and GCC markets. Tanishq, the company’s flagship store, added a new store in Virginia, US, during the quarter. The jewelry segment continued to anchor growth, expanding 19% year-on-year. Within this vertical, Caratlane outpaced other brands with an increase of 30%, compared to 18% for Tanishq, MIA and Zoya. The company added 34 new jewelry stores, bringing its total count to 3,377 stores, in addition to 15 new watch stores, five new eyewear stores and a new international store. The emerging business segment, including Fastrack, Skinner, Taneira and Irth, growing 37%. Fragrances were up 48% year over year, women’s bags were up 90% on the back of the network expansion, and Taneira grew 13%. Irth added two new stores in Delhi and Kolkata, while Taneira closed two during the quarter.

Brokerage view

Before Titan’s quarterly update, JM Financial had highlighted the company as one of the top picks in the consumer discretionary space. The brokerage expected 14% year-on-year revenue growth for the sector in the September quarter, with EBITDA growth rising 21% on a weak margin basis.

It maintained a ‘buy’ rating on Titan with a target price of Rs 3,950, citing structural tailwinds in the jewelery and lifestyle segments.

Titan said the reported figures are preliminary and detailed financial results for the second quarter will follow in due course.

Also read | Titan Q2 Update: Consumer Business Delivers 20% YOY Growth. International Business jumps 86%

((Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the economic times)