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    Buy Titan Company, target price Rs 3070: Motilal Oswal Financial Services

    Synopsis

    Titan Company, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 214316.02 Crore) operating in Gems and Jewellery sector.

    Titan CompanyAgencies
    The company has the best-in-class track record, better near term growth visibility than peers and the longer-term growth opportunity is also the best of breed, thus deserving high multiples.
    Motilal Oswal Financial Services has buy call on Titan Company with a target price of Rs 3070. The current market price of Titan Company is Rs 2421.55.

    Titan Company, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 214316.02 Crore) operating in Gems and Jewellery sector.

    Titan Company key Products/Revenue Segments include Jewellery, Watches, Precious & Semi Precious Stones, Eyewear, Others, Other Operating Revenue, Scrap, Other Services for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 11698.00 Crore, up 26.82 % from last quarter Total Income of Rs 9224.00 Crore and up 15.89 % from last year same quarter Total Income of Rs 10094.00 Crore. Company has reported net profit after tax of Rs 912.00 Crore in latest quarter.

    The company’s top management includes Mr.S Krishnan, Mr.Bhaskar Bhat, Mr.Sandeep Singhal, Ms.Sindhu Gangadharan, Dr.Mohanasankar Sivapraksam, Mr.Pradyumna Vyas, Mr.B Santhanam, Mr.Ashwani Puri, Mr.C K Venkataraman, Mr.N N Tata, Ms.Jayashree Muralidharan. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 89 Crore shares outstanding.

    Investment Rationale
    The ongoing urban discretionary slowdown does not seem to have hit the company’s customer base. The company has the best-in-class track record, better near term growth visibility than peers and the longer-term growth opportunity is also the best of breed, thus deserving high multiples.

    Promoter/FII Holdings
    Promoters held 52.9 per cent stake in the company as of 31-Dec-2022, while FIIs owned 17.53 per cent, DIIs 10.9 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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