Accumulate Titan Industries, says Gandotra

Pathik Gandotra, Partner, Dron Capital Advisors feels that, if one is keen on high quality stocks available at reasonable valuations, then can buy Titan Industries.

Gandotra told CNBC-TV18, "I see Titan Industries as an opportunity to accumulate. Investors could buy over the next two-to-three months. Titan is a good stock to accumulate because it is a very strong franchise. I don't think there will be a secular crack in gold prices from hereon. I estimate these risk-on, risk-off trades to continue. If investors are keen on high quality stocks available at reasonable valuations, then they should go and buy Titan." The share touched its 52-week high Rs 313.60 and 52-week low Rs 214.60 on 30 November, 2012 and 05 June, 2012, respectively. Currently, it is trading 21.97% below its 52-week high and 14.03% above its 52-week low. Market capitalisation stands at Rs 21,724.13 crore. The company's trailing 12-month (TTM) EPS was at Rs 5.78 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 42.34. The latest book value of the company is Rs 16.33 per share. At current value, the price-to-book value of the company was 14.98. The dividend yield of the company was 0.72%.