Titan Company has been given a "Buy" rating by Prabhudas Lilladher, with a target price of Rs 3782. The company has shown strong growth in various segments, especially in the jewellery sector. This growth can be attributed to a reduction in custom duties, high demand for watches and wearables, and positive consumer response to the sub-Rs 2 lakh jewellery category, including brands like Caratlane and Mia.

To further accelerate growth, the company is focusing on increased advertising, consumer activations, and exchange schemes. These efforts are expected to boost demand in the second half of the fiscal year. Demand trends in October indicate a strong market, driven by a higher share of wedding jewellery and favorable margins.

Titan's strategy includes expanding its jewellery sub-brands, premiumisation efforts, and scalability in Taneira. Currently, the stock is trading at 47.2 times the estimated FY27 EPS, with an 18.2% EPS CAGR projected from FY24 to FY27, despite a slight reduction in EPS estimates for FY26 and FY27. The recent correction in the stock has made it an attractive investment option, leading to the upgrade to a "Buy" recommendation.