Titan Company share slips on Goldman Sachs downgrade; target cut to Rs 738

Titan Company

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26 Aug, 2025 12:21

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The share price of Titan Company slipped by about 3 percent in the morning trade on April 23 after international investment bank Goldman Sachs downgraded the stock to "sell" from "neutral".

The investment bank also reduced its 12-month target price to Rs 738 from Rs 803, CNBC-TV18 reported. The revised target price translates into a downside of over 20 percent from the previous day's close of Rs 952 on the BSE.

Goldman Sachs is of the view that the demand outlook is losing its shine. It sees a significant impact on earnings as the GDP growth slows.

Discretionary categories were likely to see the impact of the ongoing slowdown. “Only 35% of jewelry sales relating to the wedding segment are resilient,” said a note. Additionally, slower store additions, lower returns, and higher valuations were the key reasons for the downgrade, the Goldman note said.

The stock was trading 2.7 percent lower at Rs 926 on the BSE.

March shareholding data showed that Rakesh Radheshyam Jhunjhunwala pared his stake in Titan, a favourite stock, during the fourth quarter of FY20.

Jhunjhunwala reduced his stake in Titan by 1,03,25,250 shares quarter-on-quarter (QoQ).

Also read: Rakesh Jhunjhunwala sells 1.03 crore Titan shares in March quarter

Data available on BSE showed that Jhunjhunwala and his wife Rekha  together held 4,90,50,970, or 5.53 percent, shares of Titan at the end of March quarter, against 5,93,76,220, or 6.69 percent, shares in previous quarter.

In December quarter, Rekha's stake in Titan was 1,26,00,575 shares, or 1.42 percent, but in March it came down to 97,40,575 shares, or 1.10 percent.

In the calendar year 2020, Titan is down by nearly 19 percent against a 26 percent fall in the benchmark Sensex.

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