After the recent correction in Titan Company, the valuation of the stock has become attractive. At the same time, the current rise in gold prices will benefit its gold business.
Rakesh Jhunjhunwala Portfolio Stock: Even today, pressure is being seen in the shares of Tata Group’s giant stock Titan Company. Today in intraday, this stock fell more than 4.5 percent and came to a price of Rs 2330. Whereas on Friday it closed at Rs 2441. However, after recovering, it is trading around Rs 2400. According to today’s low, the stock has corrected in double digits from its record high. Experts and brokerage houses are considering this as the right investment opportunity. He says that the valuation of the stock has become attractive after the recent correction. At the same time, the current rise in gold prices will benefit its gold business. Therefore, investors should invest money from the current price. Let us tell you that Titan Company is the favorite stock of market veteran Rakesh Jhunjhunwala.
13 percent drop from record high
Titan Company touched a price of Rs 2687 on 7 January this year. This is the all-time record high for the stock. Today it reached Rs 2330 in intraday. In this sense, the stock has weakened by 13 percent or Rs 357 from its high. The company’s stock has weakened in the current fall in the market, and not because of weak fundamentals. By the way, if we talk about one year, then it has given about 66 percent return to the investors.
Fundamentals strong, will accelerate in the short term
IIFL’s VP-Research Anuj Gupta says that when it comes to Titan Company, its outlook is better. Fundamentals look good on the stock. In the correction of the overall market, investors have sold in it. At present, this fall is the right opportunity for short term investors to make profits. He says that it is advisable to enter the stock around Rs 2350-2360. Set a target of Rs 2550 for 1 month and put a stop loss at Rs 2200. The gold business of the company will remain in jeopardy due to the recent rise in gold.
The stock will cross 3300 in the long term!
Global brokerage house Macquarie is also bullish on the stock. The brokerage has given outperform rating for the stock and has given a target of Rs 3350. If we look at today’s intraday low of Rs 2330, then it can give 43 to 44 percent return. The brokerage house says that the company is continuously increasing the market share in its field, which will benefit further. Earnings outlook is also strong due to demand strength. At the same time, the company will also get the benefit of increasing the prices of gold and precious metals due to geopolitical risk.
Rakesh Jhunjhunwala holds 45,250,970 shares
The shares of Titan Company have been present in Rakesh Jhunjhunwala’s portfolio for a long time. He holds about 5.1 percent stake in the company. He had raised 0.2 per cent stake in the company in the December quarter. The company has a total of 45,250,970 shares in his portfolio, whose current value is Rs 10,885.6 crore.
(Disclaimer: Investment advice in stocks is given by experts and brokerage houses. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
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