Buy Titan Company, target price Rs 1650: Motilal Oswal

Motilal Oswal has buy call on Titan Company with a target price of Rs 1650. The current market price of Titan Company Ltd. is Rs 1514.3.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 134433.02 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.

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 per cent and public and others 18.1 per cent.