Titan shares worth ₹2,050 crore change hands; Nomura says weak Q2 will make a good entry point

Shares of Titan Company Ltd

. are witnessing some choppy moves on Friday, September 26, after a large trade that took place before the start of trade.

As many as 62 lakh shares of the Tata Group enterprise, amounting to 0.7% of the outstanding equity changed hands in a large trade that took place.

Shares changed hands at an average price of ₹3,306 per share, taking the total transaction value to ₹2,050 crore.

Buyers and sellers in the transaction are not yet known.

Brokerage firm Nomura initiated coverage on the Tata Group stock on Friday, projecting a potential upside of 26% from Thursday's closing levels.

Nomura initiated coverage with a "buy" rating on the stock with a price target of ₹4,275 per share.

The brokerage said headwinds for the company are largely behind. Sales growth and margins have now been reset to new normal levels.

Nomura has forecast a weak second quarter for Titan. However, it said that in case of such an event, it could prove to be a good entry point to invest. The brokerage expects the stock to recover from the second half of this financial year.

Nomura said Titan's strong structural story is intact. It is better placed in comparison to its domestic peers on a risk-weighted basis.

Titan is being valued by Nomura at 60 times September 2027 Earnings Per Share (EPS) estimates, which is in-line with the average trading multiple for the stock.

The brokerage expects Titan's Earnings Per Share (EPS) to grow at a Compounded Annual Growth Rate (CAGR) of 24% over financial year 2026-2028.

Of the 38 analysts that have coverage on Titan, 29 have a "buy" rating, six have a "hold" rating and three have a "sell" rating.

Shares of Titan are currently trading 0.3% lower at ₹3,367.7. The stock has declined 6.3% in the last one month.