Watch experts decode 'The rise of ESG investing' on October 29 at 4pm. Register Now!
Last Updated : Jul 10, 2019 11:30 AM IST | Source: Moneycontrol.com

Buy Titan Company; target of Rs 1320: Sharekhan

Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1320 in its research report dated July 09, 2019.

Broker Research
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Titan Company

Titan registered moderate revenue growth of 13% in its jewellery business (vs. our expectation of 16%) as higher gold prices affected Q1FY2020 demand. Other key businesses such as watches and eyewear delivered strong performance by achieving 19% and 13% growth, respectively. We have cut FY2020/FY2021 estimates by 7% and 4%, respectively, to factor in lower growth in the jewellery division and lower margins.


The stock has corrected by 12%, factoring near-term headwinds; we maintain Buy with a revised PT of Rs. 1,320, as the long-term growth story remains intact.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Jul 10, 2019 11:30 am