Motilal Oswal has issued a “buy” call on Titan Company, setting a target price of Rs 3795. Currently, Titan Company Ltd. is trading at Rs 3258.5 in the market.
Titan Company Ltd., established in the year 1984, is a large-cap company with a market capitalization of Rs 290,306.07 Crore, and it operates in the Gems and Jewellery sector.
Key Products/Revenue Segments for Titan Company Ltd. include Jewellery, Watches, Other Operating Revenue, Eyewear, Others, Precious & Semi-Precious Stones, Scrap, and Other Services for the fiscal year ending on March 31, 2023.
In terms of financials, for the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 12,011.00 Crore. This represents a significant increase of 14.67% from the total income of Rs 10,474.00 Crore in the previous quarter and a substantial growth of 26.60% from the total income of Rs 9,487.00 Crore in the same quarter of the previous year. The company reported a net profit after tax of Rs 756.00 Crore in the latest quarter.
As of June 30, 2023, the promoters held a 52.9% stake in the company, while foreign institutional investors (FIIs) owned 18.53%, and domestic institutional investors (DIIs) held 10.42%.
Investors may consider this “buy” call from Motilal Oswal when evaluating their investment decisions. The target price of Rs 3795 suggests potential growth for Titan Company in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.