JPMorgan is neutral on Titan with a target of Rs 2,618. The firm said that it's an attractive risk-reward in the short-term because their store channel checks suggest tapering of demand in recent weeks.

Titan is at around 90 times one year forward earnings and offers limited scope for earnings per share (EPS) upgrades.

Also Read: Momentumisers: Titan shares in focus; here’s why

The only joker in the pack would perhaps be if the company does any sort of merger and acquisition (M&A) in the tech wearable space and that’s the buzz is. So let's see what happens there.

Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.

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