Titan shares fall 3% after Q2 business update. Here’s what brokerages said

Investec maintains a hold rating on Titan with a target price of Rs 4,100, expecting strong revenue growth but muted PAT. The jewellery segment sees good growth, but a weak studded mix may dent margins. Watches and wearables grew 19% YoY, while eyewear lags behind. Emerging businesses posted double-digit growth, with fragrances up 19% and fashion accessories up 11%.