Titan Company Stocks: Today, Joradadar is witnessing a rapid rise in shares of Titan Company. Today, Titan’s stock strengthened nearly 2 per cent and crossed Rs. 1600. The stock is trading near its 52-week high. The stock has gained about 58 per cent in the last 1 year. Market experts are hoping to get good returns in the Titan company even further. Brokerage house Motilal Oswal, MK Global and Yes Securities have advised to buy the stock. In fact, the Titan Company has reported that the business has been strong during the March quarter, as the impact of COVID on consumer sentiment had started to decline since January. The company said that during the March 2021 quarter, its income has increased strongly by 60 percent.
60% growth in jewelery division
Talking about the business of jewelery division of Titan Company, there has been a growth of 60 per cent during the fourth quarter. This has happened due to low base. The fourth quarter was better due to lower gold prices and gain of market share from regional players. During this time, the demand for wedding jewelery has been strong. The company has benefited more in the Tamil Nadu region. The company’s expansion policy is expected to continue aggressively. In the last financial year, the company has opened 26 new stores. The Titan company’s sales growth has been healthy. However, the mix is still low on an annual basis, which will impact margins in the fourth quarter.
90% recovery in watch business
In the fourth quarter, there has been a 90 per cent recovery in the watch business of Titan Company. There is a steady recovery in e-commerce. This division has added 13 WOT stores in FY21. Growth in the eyewear segment during the fourth quarter has been 20 per cent. In the last financial year, 15 new stores have opened in this division. Overall recovery in other businesses too has been 80 per cent.
How can the results be live
According to brokerage house MK Global, it is estimated that the sales / EBITDA / PAT growth could be 59% / 64% / 87% in the fourth quarter. According to the brokerage, Titan’s jewelery business is showing better growth ahead. You will get the benefit of the wedding season. However, in states like Maharashtra, a lockdown may cause short-term impact.
How much return can I get?
Brokerage house Motilal Oswal has advised to invest in Titan Company with a target of Rs 1800. At the same time, Yes Securities has advised to invest in Titan shares, giving a target of Rs 1700. While MK Global has set a target of Rs 1650 for the stock. In terms of current price of Rs 1571, it can increase by 15 percent more.
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