Now Reading: Motilal Oswal bets on Titan, Kalyan Jewellers with up to 34% upside
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Motilal Oswal bets on Titan, Kalyan Jewellers with up to 34% upside
Motilal Oswal bets on Titan, Kalyan Jewellers with up to 34% upside
Motilal Oswal has named Titan and Kalyan Jewellers as its top picks in India's jewellery sector, giving both a 'buy' rating. It set target prices of Rs 6,000 for Titan and Rs…
The Story in Brief
Motilal Oswal has named Titan and Kalyan Jewellers as its top picks in India's jewellery sector, giving both a 'buy' rating. It set target prices of Rs 6,000 for Titan and Rs 800 for Kalyan Jewellers, implying upside potential of 18% and 34.2% respectively. The brokerage expects organised jewellery retail to accelerate, driven by formalisation and premiumisation trends.
The organised segment's share of India's Rs 8.5 lakh crore jewellery market has nearly doubled to 40-45% in FY26 from 20-25% in FY19, Motilal Oswal said. Titan and Kalyan Jewellers together account for almost 60% of organised retail jewellery stores. Other brokerages gave mixed views: Emkay has a target of Rs 5,600 on Titan, Elara revised to 'Accumulate' at Rs 5,300, while HDFC Institutional Equities maintained a 'Reduce' with a target of Rs 4,350.
The Indian Opinion
Brokerage price targets vary wildly from Rs 4,350 to Rs 6,000 for Titan, revealing how differently analysts read the same trends. The bullish narrative around formalisation and premiumisation is well-supported by data, but the HDFC 'Reduce' rating reminds us that competition and high valuations can puncture optimism. The key test ahead will be Titan's next quarterly earnings: if growth disappoints despite the favourable calendar, the bulls may have to temper their bets.
Sources (2): livemint.com, businesstoday.in
This story was synthesised by AI from the 2 sources linked above.
