Titan share price: Buy Titan Company, target price Rs 2550: ICICI Direct

ICICI Direct has buy call on Company with a target price of Rs 2550. The current market price of Titan Company Ltd. is Rs 2294.4.

Time period given by analyst is one year when Titan Company Ltd. price can reach defined target.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 190665.39 Crore) operating in Gems and Jewellery sector.



Titan Company Ltd. key Products/Revenue Segments include Jewellery, Watches, Gold, Eyewear, Traded Goods, Precious & Semi Precious Stones, Other Operating Revenue, Other Services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3519.00 Crore, down -53.40 % from last quarter Total Income of Rs 7551.00 Crore and up 74.21 % from last year same quarter Total Income of Rs 2020.00 Crore. Company reported net profit after tax of Rs 18.00 Crore in latest quarter.

Investment Rationale
Titan has been an exceptional performer in the discretionary space with stock price appreciating at ~40% CAGR in last five years. The brokerage continues to remain structurally positive and maintain BUY rating.


Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of June 30, 2021, while FIIs held 18.4 per cent, DIIs 9.9 per cent and public and others 18.8 per cent.

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