Titan Industries can go upto Rs 237-240: Thukral

Titan Industries can go upto Rs 237-240, says Hemant Thukral, Head- Derivatives Research, SBI Capital Securities.

Thukral told CNBC-TV18, "Titan Industries belongs to that camp of consumptions stories like Bata India. In Titan where at every correction we have seen fresh longs being built up. Today in both of them actually the fresh longs have been built up. But Titan looks slightly more interesting because the stock after consolidating a lot between Rs 210-218 has seen this surge up and now with fresh open interest, so it looks good to go upto atleast Rs 237-240 levels in the immediate short-term. So traders can look for any opportunity, a slight dip also to go long on this counter."
The company's trailing 12-month (TTM) EPS was at Rs 4.85 per share. (Mar, 2011). The stock's price-to-earnings (P/E) ratio was 46.15. The latest book value of the company is Rs 13.01 per share. At current value, the price-to-book value of the company was 17.21. The dividend yield of the company was 0.67%.