HSBC keeps Buy on Titan; flags Phoenix Mills’ mall pipeline as growth catalyst
HSBC retained its Buy rating on Titan with a ₹5,290 target, citing jewellery demand and continued migration to organised retail. It also sees Phoenix Mills benefiting from premium-mall expansion, with two new malls planned by FY28 and three more by FY30.
HSBC retained a Buy on Titan, citing jewellery demand and ongoing consumer shift to organised retailers, with an Rs 5,290 target. It also backed Phoenix Mills’ premium-mall growth, expecting new mall openings and office expansion to support earnings.
Why this matters
HSBC’s call follows Macquarie retaining Titan as a Star and adding Phoenix Mills to Rising Stars. Titan also recently listed K. Vivekanandan and Dr. D. Karthikeyan as directors.
Retail-company signals are accelerating, up 208414% QoQ.