Soaring gold, silver rates fuel Titan share price to record high. Do you own?

Multibagger Tata Group stock Titan share price rose around 2% in intra-day deals today, Decemebr 26 to hit its record high of ₹3977.00 following record breaking rally in the the gold and silver prices.

Gold and silver prices hit record high again, extending their record-breaking rally supported by strong safe-haven buying amid escalating geopolitical tensions between the US and Venezuela, along with growing expectations that the US Federal Reserve could deliver further interest rate cuts in January as well.

International gold prices continued to firm up, with US gold futures February contracts rising 0.7% to hit a record high of $4,533.60 per ounce. Meanwhile, silver prices also jumped 4% to cross $75 per ounce for the first time ever. The gains were

The rally was mirrored in the domestic markets as well.

MCX gold February futures climbed 0.65% to touch a record high of ₹1,38,994 per 10 grams, while MCX silver March futures surged 4% to scale a fresh all-time high of ₹2,32,741 per kg.

Titan Stock Performance

With today's high, the Tata Group stock has rallied 35% from its 52-week low of ₹2,947.55, which was recorded in April 2025. The stock has gained over 19% in the past one year, 7% over the last six months, 19% in the past three months, and around 2% in the last one month. Over the long term, Titan has delivered strong multibagger returns, surging 165% over the past five years.

Even as Titan Company trades near record highs, the key question confronting investors is whether the stock still offers value at current levels or if the rally has already priced in most positives. Global brokerage UBS believes there is still meaningful upside left and has turned more constructive on the stock despite its recent strength.

UBS sees 18% upside potential

UBS has upgraded Titan Company from Neutral to Buy and raised its target price to ₹4,700 from ₹3,600, implying an upside potential of over 18% from current levels. The brokerage described Titan as a structural winner in the jewellery industry, adding that it appears to be on the cusp of a rebound after a prolonged period of underperformance.

“We view Titan as an impressive player in the jewellery industry, with strong brands, consumer trust and scale. While we think Titan’s value proposition remains competitive. On its attractive valuation, we expect an earnings rebound,” UBS said.

The brokerage added that after nearly two years of stagnation, Titan’s shares appear well positioned for a stronger phase of growth. With the jewellery margin reset—undertaken to keep gold pricing competitive for consumers—largely behind it, UBS expects a meaningful improvement in earnings ahead.

Titan Q2FY26 results

Titan’s bullish brokerage upgrade comes on the back of a solid second-quarter performance. For Q2FY26, Titan Company reported a 42.7% year-on-year rise in net profit to ₹1,006 crore. Revenue for the quarter rose 25.1% YoY to ₹16,534 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) also increased 43% YoY to ₹1,620 crore.

Operating margins improved to 9.8% from 8.6% a year earlier, though they remained below the Street’s expectation of 11%. The jewellery division continued to be Titan’s primary growth engine. Jewellery sales rose 21% to ₹14,092 crore, excluding bullion and DigiGold.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.