Buy Titan Company, target price Rs 1430: Motilal Oswal

Motilal Oswal has given a buy rating to Titan Company with a target price of Rs 1430. The share price moved down by 0.75 per cent from its previous close of Rs 1364.95. The stock’s last traded price is Rs 1354.65.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 121196.13 Crore) operating in Gems and Jewellery sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 4127.00 Crore, up 201.68 % from last quarter Sales of Rs 1368.00 Crore and down -10.30 % from last year same quarter Sales of Rs 4600.71 Crore Company reported net profit after tax of Rs 174.00 Crore in latest quarter.

Investment Rationale
Surpassed its immediate hurdle of 1320 zones with formation of perfect bullish candle on daily and weekly scale

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 18.1 per cent, DIIs 11.3 per cent and public and other 17.7 per cent.