Titan share price edged up after India’s Titan Company announced it will buy a 67% stake in Dubai-based Damas Jewellery for over Dh1 billion (AED 1.038 billion or roughly $283 million). The deal, made public on July 21, 2025, marks a significant step in Titan’s global expansion strategy, especially in the fast-growing jewellery market of the Gulf. The acquisition is expected to wrap up by January 31, 2026. Titan will also have the option to buy the remaining 33% after December 2029.
This move gives Titan access to 146 Damas stores spread across the (Gulf Cooperation Council) GCC, including the important Damas UAE market. Titan has already been running its Tanishq brand in the UAE since 2020, and this deal strengthens its presence in the region. By bringing Damas Jewellery into its portfolio, Titan will be able to offer a richer mix of styles and better connect with a broader customer base.
Titan’s Managing Director, C.K. Venkataraman, said the deal fits perfectly with the company’s goal to grow globally and reach beyond just the Indian diaspora. By building on Damas UAE’s strong brand and loyal customer base, Titan hopes to connect with a broader range of nationalities and communities. The partnership is also expected to give Titan better access to local supply chains, skilled talent, and valuable retail insights.
Industry experts reacted positively. Brokerage firm JM Financial raised its outlook on Titan’s stock to Buy, citing the deal’s strong potential for long-term growth. After the news, the Titan share price rose nearly 1% to ₹3,454.40 on July 22. The Titan India share price has already jumped about 25% since hitting a 52-week low in June 2025, showing strong investor trust in the company’s direction.
Titan share price gains as deal shows long-term value
Experts estimate the GCC jewellery market to be worth around $14 billion, growing at roughly 6% annually. Titan’s deal comes at a good price—about 0.7 times EV-to-sales—especially when compared to its Indian valuation of 5.6 times. That suggests the deal could bring even more value over time.
Titan plans to fund the purchase through a mix of internal cash, reserves, and debt. On the other side, Mannai Corporation of Qatar, which currently owns Damas, plans to use the money to grow its core businesses and pay down debt.
All in all, this is a smart move for Titan. Taking over Damas Jewellery gives it a strong base in the Gulf and supports its long-term growth plans. With solid backing from the market and a rise in Titan share price and Titan India share price, Titan looks ready for the next chapter in its global journey.
