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Titan: Strong performance continues; poised to shine beyond near-term hiccups

Growth for Titan accelerated in the March quarter driven by strong consumer sentiments and market share gains. Investors with a long term view should accumulate the stock on declines

April 08, 2021 / 04:50 PM IST
Titan: Strong performance continues; poised to shine beyond near-term hiccups

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

Titan’s (CMP: Rs 1,514; Market Capitalisation: Rs 134,406 crore) business update for the March 2021 quarter indicates acceleration in revenue growth. We expect revenue growth of about 60 per cent in the March quarter as compared to 17 per cent in the December 2020 quarter. Improved consumer sentiments, coupled with market share gains, led to a strong performance in January- February 2021, while the low base of March last year (due to the nationwide lockdown) further boosted performance. Margins in the...

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