Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

Buy Titan Company: Target Of Rs 1350: Sharekhan

Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1350 in its research report dated October 28, 2020.

Nov 2, 2020 / 03:06 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research repor on Titan Company


Titan’s standalone business recovered to 89% (consolidated recovered to 98%) with the jewellery business growing by 9% in Q2FY2021; watches and eyewear business recoveredto 56% and 61%, respectively. Consolidated OPM declined 433 bps to 6.9%, affected by hedging loss and lower operating leverge. Operating profit was down 40% to Rs. 313 crore. Higher demand during the festive season and improving wedding demand will help Titan post sustained recovery in the jewellery business going ahead. We have fine-tuned our estimates for FY2021 to factor in lower-than-expected OPM. We have maintained them for FY2022/FY2023E.


Outlook


We maintain Buy with a revised PT of Rs. 1,350.


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.

Broker Research
first published: Nov 2, 2020 03:06 pm

stay updated

Get Daily News on your Browser
Sections