Titan is making bold moves again. The Tata-backed jewellery giant just announced its biggest international deal yet — buying a 67% stake in Dubai-based Damas Jewellery. This Rs 2,438-crore deal has already boosted Titan’s stock by over 1% on the NSE.
But what’s really going on here? Let’s break it down.
Titan goes global with Damas
On Monday, Titan shared that it will acquire Damas through its arm, Titan Holdings International FZCO. This subsidiary signed a deal with Mannai Corporation, which currently owns Damas. The total value? AED 1,038 million — around Rs 2,438 crore.
Damas is a big name in the Middle East jewellery world. It has a strong presence across all six GCC countries. This deal helps Titan go beyond its Indian base and connect with a wider and richer audience in the Gulf.
Titan’s strength is jewellery
Titan started as a watch brand in 1987. But its real success came in 1994, when it launched Tanishq, its jewellery line. Fast forward to FY25 — Titan earned Rs 57,339 crore in total revenue, and jewellery brought in Rs 46,571 crore. That’s 81% of its business.
This deal shows Titan wants to dominate globally now, not just in India.
Also Read Titan Names Tanishq’s Arun Narayan as Jewellery Division CEO from January 2026
Why brokerages are loving it
Morgan Stanley is fully backing Titan. It kept its ‘Overweight’ rating and set a new target price of Rs 3,876. The firm called the deal “fairly valued” and believes Damas will help Titan attract non-Indian buyers too.
That’s huge. Because until now, most of Titan’s success abroad came from Indian expats. Damas changes that.
Titan has money — and guts
The deal will be paid using Titan’s internal funds, cash reserves, and some debt. This proves the company is in strong financial shape and not scared to invest big when it sees the right opportunity.
As Ajoy Chawla, CEO of Titan’s jewellery business, said:
“This is the beginning of the next growth chapter in the Middle East.”
Should you buy Titan stock now?
If you’re looking at long-term value, many experts say yes. Titan is a trusted brand, and this move shows it’s thinking big. With Damas now under its wing, Titan is no longer just an Indian player — it’s now a global jewellery force.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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