Motilal Oswal has given buy rating to Titan with a target price of Rs 1215. The share price moved up by 3.93 per cent from its previous close of Rs 1043.25. The stock’s last traded price is Rs 1084.95.
Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 92618.29 Crore) operating in Gems and Jewellery sector.
Financials
For the quarter ended 31-03-2020, the company reported a Consolidated sales of Rs 4617.31 Crore, down 28.46 % from last quarter Sales of Rs 6454.58 Crore and down 4.27 % from last year same quarter Sales of Rs 4823.49 Crore. The Company reported net profit after tax of Rs 343.16 Crore in latest quarter.
Investment Rationale
As FY22 multiples at 50x may appear to provide a challenging entry point for investment, an upgrade to Buy may consequently appear to be an early one. However, this is primarily due to the temporary impact of the pandemic in FY21, from which the rebound would be sharp.
Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of June 30, 2020, while FIIs held 17.6 per cent, DIIs 11.2 per cent and public and others 18.4 per cent.
Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 92618.29 Crore) operating in Gems and Jewellery sector.
Financials
For the quarter ended 31-03-2020, the company reported a Consolidated sales of Rs 4617.31 Crore, down 28.46 % from last quarter Sales of Rs 6454.58 Crore and down 4.27 % from last year same quarter Sales of Rs 4823.49 Crore. The Company reported net profit after tax of Rs 343.16 Crore in latest quarter.
Investment Rationale
As FY22 multiples at 50x may appear to provide a challenging entry point for investment, an upgrade to Buy may consequently appear to be an early one. However, this is primarily due to the temporary impact of the pandemic in FY21, from which the rebound would be sharp.
Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of June 30, 2020, while FIIs held 17.6 per cent, DIIs 11.2 per cent and public and others 18.4 per cent.