Buy Titan Company: target of Rs 2305: Sharekhan
Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 2305 in its research report dated September 14, 2021.
September 15, 2021 / 10:05 AM IST
Sharekhan's research report on Titan Company
Correction in gold prices, upcoming festive/wedding season and a shift to trusted brands will boost Titan’s jewellery sales in Q2/Q3FY2022 that would also boost margins sequentially. Sales of watches will see a good recovery led by a surge in online sales and higher demand for wearables/digital watches. Recovery in eyewear would depend on improvement in the footfalls. Strong balance sheet (cash kitty of Rs. 2,000 crore) will help in competing and gaining market share from standalone players and regional players in the coming years.
We maintain a Buy on Titan Company (Titan) with a revised price target of Rs. 2,305. Titan will be one of the key beneficiaries of consumers’ shift to branded jewellery as it will not only add to topline but will drive margins in the long run.
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