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Last Updated : Apr 11, 2019 04:20 PM IST | Source:

Buy Titan Company; target of Rs 1290: ICICI Direct

ICICI Direct is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1290 in its research report dated April 10, 2019.

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ICICI Direct's research report on Titan Company

In its quarterly preview of Q4FY19, the management highlighted that the jewellery division continued to gain market share despite headwinds impacting the jewellery industry. The division added a record number of Tanishq stores (35) with revenue growth of 22% for FY19. The watches division sustained its healthy performance on the back of new product launches, especially in the smart watch category, resulting in robust revenue growth of 16% in FY19. The management remains optimistic on the growth outlook with the aim of achieving 20% topline growth in FY20E. We model revenue, earnings CAGR of 21%, 27% respectively, in FY18-21E.


We reiterate our BUY rating on the stock with a revised target price of Rs 1290 (49.0x FY21E EPS).

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.

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First Published on Apr 11, 2019 04:20 pm
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