Titan‘s share price was volatile on Thursday morning as brokerages were divided on the company’s growth prospects.

What Happened: Citi maintained its “neutral” rating for the stock with a target price of ₹4,000. The target indicates an around 6.5% upside from the stock’s last closing price of ₹3,759.40.

The brokerage highlighted some upside risks to its neutral stance. Firstly, there’s the prospect of better-than-anticipated consumer traction. Secondly, the company may experience stronger traction for its new product launches and innovations. Lastly, there are potential upsides stemming from Titan’s aggressive expansion plans.

Motilal Oswal, on the other hand, maintained its “buy” rating for the stock with a target price of ₹4,300. The analysts highlighted that Titan has scaled up its jewellery business significantly, reaching approximately ₹45,500 crore in FY24, a substantial increase from ₹300 crore in FY03.

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The company’s impressive performance stems from its early-mover advantage in the organized jewellery industry and its consistent efforts to scale up operations through agile design and enhanced consumer engagement strategies, the analysts added.

The brokerage highlights the strong long-term growth potential of Titan’s jewellery and other businesses. Despite already capturing around 8% of the sizable ₹5 trillion jewellery market, Titan still has significant room for further growth. A

While being cautious about near-term consumption trends, Motilal continues to favour Titan due to its exemplary execution track record and its commitment to expanding its user base.

Price Action: Titan’s share price was up % to trade at ₹ as the markets opened on Thursday.

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