Moneycontrol PRO
Upcoming Webinar:Innovate Your Future at India Inc. on the Move on August 26 and 27, 2021 at 10am, with Rockwell Automation
you are here: HomeNewsBusiness

Buy Titan Company; target of Rs 1710: Sharekhan

Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1710 in its research report dated February 10, 2021.

February 11, 2021 / 03:29 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Titan Company

Titan Company’s (Titan) Q3FY2021 consolidated operating performance came in-line with expectations with revenues rising by 17% to Rs. 7,619 crore and OPM at 11.1%. Jewellery sales (excluding Bullion sales) grew by 16% in Q3 as soaring festive demand let to better footfalls. Watches and Eyewear businesses recovered to 88% and 92% in Q3 and are expected to bounceback fully by Q4. Better operating leverage helped OPM improve sequentially to 11.1% from 6.9% in Q2; OPM likely to be at 12-13% in FY22/23.


We maintain a Buy rating with an unchanged PT of Rs. 1,710; strong recovery anticipated in FY2022 and robust return profile make Titan a better play in retail space.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 11, 2021 03:29 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark