Shares of Titan Co. Ltd. rose to an all-time high after the Tanishq owner guided for 40% revenue growth in October-December 2025, on the back of a surge in gold prices and sales during the festive quarter.
On Wednesday (7 January 2026), Titan’s share price rose as much as 4.88% to an all-time high of ₹4,312.00 on the BSE, even as the benchmark Sensex was down up to 0.40%. The stock was reacting to Titan’s Q3 update.
Standalone revenue of the Tata Group company is expected to have risen 40% year-on-year on as the jewellery business, which contributes 85% of revenue, “clocked a robust 41% YoY growth in Q3FY26”, according to an exchange filing on Tuesday. “Revenue growth was driven by substantial average selling price increases, offsetting flattish buyer growth,” the company stated.
According to JM Financial Ltd., Titan’s revenue growth in Q3 FY26 was largely driven by an increase in average selling price that offset flattish buyer growth.
“To navigate the elevated gold price environment, Tanishq deployed a gold exchange offer that sustained consumer engagement beyond the traditional festive window,” JM Financial analysts led by Gaurav Jogani said in a note.
“Distinct consumer patterns were observed across product categories where, gold coins nearly doubled in sales v/s Q3 FY25 reinforcing their strong investment proposition.”
Titan Q3 update: Jewellery segment
- Gold coins nearly doubled in sales versus the year-ago period reinforcing their strong investment proposition.
- The gold (plain) category grew strongly in the late-thirties reflecting preference for design-led, aesthetic premium.
- Studded jewellery clocked healthy double-digit growth in the mid-twenties led by buyer growth in the sub-segment.
Titan Q3 update: Other segments
- Watches and wearables: Segment revenue grew ~13% YoY led by analog segment clocking ~17% YoY growth on back of healthy festive season.
- Eyecare: The segment grew 16% YoY led by healthy performance from both international brands and house brands.
- Fragrances grew ~22% YoY led by strong volume growth in Fastrack and Skinn with ASP remaining at similar levels as Q3 FY25.
- Women’s bags grew ~111% YoY led by 2x growth in volumes and healthy double-digit ASP growths in Fastrack and Irth brands.
- Taneira’s sales declined ~6% YoY due to lower volumes offsetting benefit of double-digit ASP growth.
- International business grew ~81% YoY. Tanishq added 2 new stores in USA (Boston and Orlando) in Q3 FY26.