Titan Company: With festivals like Dussehra and Diwali now close, the demand for jewelery and other consumer goods is expected to increase. Experts and brokerage houses are also looking positive for jewelery and watchmaker Titan Company. He says that Titan’s business will get a boost in the festive season. While some experts and brokerage houses are seeing good growth in Titan’s stock, on the other hand Jhunjhunwala Family has reduced 50,000 shares of Titan Company from its portfolio. This information has been received from the September quarter holding. Please tell that Titan Company is considered to be the favorite share of Rakeya Jhunjhunwala.
Strong recovery in jewelery business
Since the lockdown phase in the Titan Company’s business, vigorous rewiring has been seen. The company has recently given a statement that Titan’s business has reached pre-Covid level. Since July, the company’s business has reached a normal level in the September quarter i.e. Q2. The jewelery recovery rate in Q2 has been around 98 percent on an annual basis. There has been a 55 percent recovery in watch business in Q2. 390 crore worth of jewelery is sold in Q2. Gold sales continue to grow. There is a 58 percent recovery in the eye wear business. Since then, the sentiment of investors strengthened.
Rekha Jhunjhunwala reduced 50 thousand shares
Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala now held 96,90,575 shares or 1.09 per cent stake in Titan Company as of September 30, according to information received from the BSE website. While he held 97,40,575 shares or 1.10 per cent stake in the June quarter. That is, they have sold 50 thousand shares. However, Rakesh Jhunjhunwala holds 39310395 shares i.e. 4.43 per cent stake as before.
Shares can give good returns
Brokerage house Motilal Oswan has advised to invest in the stock and has given a target of Rs 1400. At the same time, brokerage house ICICI Direct has advised buying the stock giving a target of Rs 1450. Experts believe that Titan’s business will get a boost in the festive season. The thing that the company is getting the most benefit from is the Titan Company Organized Jewellery in lifestyle category and leading position in the segment of watches.
Its mid-term growth outlook remains good. It is getting support from wedding/fashion jewellery. Expect better sales in the coming days in the wedding season. Due to the shift to jewellery business organized players, the company has benefited from the faster recovery in unlocking. The stock is also trading at a discount of Rs. 1213 from its 52-week high of Rs. 1389.
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