Titan Company Limited said its Tanishq jewellery business is seeing strong interest in 18-karat gold, lightweight designs and lower-carat natural diamond jewellery as consumers adapt to high gold prices. CEO Arun Narayan said natural diamond demand has revived since January, more than half of jewellery sales come from old-gold exchanges, and Q2 FY27 revenue grew 25% year-on-year.

Titan Company Limited has delivered 10% year-to-date and 23% one-year returns versus a 15% year-to-date fall in the NSE Nifty, driven by its domestic jewellery business which grew 38% year on year to Rs 15,502 crore in Q1FY27, though the article flags sustainability risks from store expansion pace, gold prices, margins and a price-to-earnings ratio of 67.6.

Titan Company Limited launched its lab-grown diamond jewellery brand beYon about 10 months ago and is testing coloured stones, unconventional cuts and silver, vermeil and gold formats to position it around fashion rather than affordability. The company has about 12 stores across Mumbai, Delhi and Bengaluru, lists silver jewellery at Rs 2,499-11,999 and rings at Rs 33,833-1,23,000, offers no exchange on lab-grown stones, and says early customer numbers remain small as it tests demand before a wider rollout.

Titan Company Limited's brand Caratlane is targeting younger, digital-first buyers with affordable lightweight jewellery through a mature online platform, Titan customer ecosystem and omnichannel stores, with ICICI Securities noting 394 Caratlane stores in Sep'26 plus 12 Shaya stores across 157 towns, two US stores and delivery to about 30 countries.

Titan Company Limited reported 25% year-on-year revenue growth for Q2 FY27, down from 40%+ growth in the prior three quarters but above 21.9% in Q2 FY26, with Nomura noting a high base and fading benefit of high gold prices may moderate growth from Q3. Titan said coin demand declined high single-digit year-on-year while studded jewellery grew in the early 30s versus 27% in Q1 FY27.

Titan Company Limited is positioning natural diamonds around rarity, brilliance and value retention through a Tanishq collection with designer Rahul Mishra and diamond experience centres in about 200 stores to differentiate from lab-grown stones. Managing Director Ajoy Chawla said studded jewellery mix is swinging upwards, with studded jewellery growing in the mid-30s in Q1FY27 and in the early-30s in its Q2 update on 6 October versus 21% growth for the overall jewellery portfolio. Titan also retains exposure to lab-grown diamonds through its beYon brand launched in December 2025.