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Can Titan regain its mojo?

June 11, 2020 / 09:26 AM IST
Can Titan regain its mojo?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Nandish Shah Moneycontrol Research Highlights - March quarter hit by COVID-19 - Expect full recovery by March 2021 - Tighter cost control to help EBIDTA margins - Core discretionary play; add on decline Titan Ltd’s (CMP: Rs 997; Market capitalization: Rs 88,468 Crore) March quarter earnings were above expectations. However, barring a few pockets, discretionary demand is likely to remain subdued in FY21. As a core consumption discretionary play Titan will nevertheless stand out. Is it the right time to look at Titan with an eye on...

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