Jhunjhunwala Portfolio: The favorite stock Titan of veteran investor Rakesh Jhunjhunwala, who is called Warren Buffett of India, has gained 13 percent in the last one month. Global brokerage firms believe that it may see more upside now and its prices may rise up to 25 percent.
Titan’s prices have strengthened due to better results. In the September 2021 quarter, Titan posted 222 per cent higher net profit on a year-on-year basis, while its revenue grew by 66 per cent. Talking about Jhunjhunwala’s portfolio, Titan has the largest share in it. Jhunjhunwala had recently increased his stake in this company. The global brokerage firm has rated it outperform.
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Macquarie Research – Outperform
Target price – Rs 3,000
Titan’s results in the second quarter July-September 2021 of the current financial year 2021-22 surprised the brokerage firm due to cost control and better product mix. According to Macquarie Research, its growth will continue due to increasing investment in new stores, product design and marketing etc. The brokerage firm has increased the EPS (earnings per share) by 13 per cent for the financial year 2022 in view of the second quarter results.
Morgan Stanley – Outperform
Target price- Rs 2,501
Titan’s performance in the September quarter was better than brokerage firm Morgan Stanley’s estimates. According to the brokerage firm, the management of the company is confident in the festive season. The company will continue to increase investments in all business segments. However, according to brokerage firm Morgan Stanley, there are also risks related to the growth of the company such as increase in corona cases and delay in consumption recovery in cities.
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Haitong – Outperform
Target price – Rs 2,720
According to analysts of the brokerage firm, the quarterly results of the company were better than its expectations. The business of jewellery, eyewear and other segments has reached the level before Corona. At the same time, there has been an increase in the business of watches and gradually it is reaching the level before Corona. Brokerage firm Haitong has raised the company’s EPS estimate by 3.2-6.7 per cent for the financial year 2022-24 due to plans to increase investment.
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