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Last Updated : Jul 04, 2019 09:36 AM IST | Source: Moneycontrol.com

Titan Company declines as Morgan Stanley downgrades stock

It sees balanced risk-reward at present stock price and expects less room for positive surprises in coming quarters

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Shares of Titan Company declined 1 percent in the early trade on July 4 after foreign brokerage house Morgan Stanley downgraded the stock to the equal-weight from overweight.

The brokerage house has kept the target at Rs 1,300 per share.

According to Morgan Stanley, the company is one of the favourite long-term plays. However, it is reluctant to push multiples beyond current levels.

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It sees balanced risk-reward at present stock price and expects less room for positive surprises in coming quarters.

At 09:22 hours, Titan Company was quoting at Rs 1,313.60, down Rs 14.30, or 1.08 percent on the BSE.

 

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First Published on Jul 4, 2019 09:36 am
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