Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy Titan Company: target of Rs 1710: Sharekhan

Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1710 in its research report dated January 08, 2021.

January 14, 2021 / 09:03 PM IST
 
 
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Sharekhan's research report on Titan Company


Jewellery sales grew by 15% in Q3,as festive demand uptick sustained during rest of the quarter. Watches and Eyewear businesses recovered to 88% and 92% in Q3 and are expected to fully recover by Q4. Better operating leverage would help margins to recover q-o-q and stand at ~11% in Q3; FY2022, OPM is expected to be 12.5-13%. Higher wedding demand, share gains from small players and improvement in discretionary spends would help jewellery business achieve good growth in FY22/23. Watches to see strong recovery as wearable and bands gaining strong traction.


Outlook


We maintain a Buy on Titan Company (Titan) with a revised PT of Rs. 1,710; expected strong recovery in FY2022 and robust return profile make it a better play in retail space.


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: Jan 11, 2021 01:13 pm

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