Buy Titan Company, target price Rs 1580: Yes Securities

Yes Securities has buy call on Titan Company with a target price of Rs 1580. The current market price of Titan Company Ltd. is Rs 1496.9.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 132755.10 Crore) operating in Gems and Jewellery sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 7659.00 Crore, up 66.46 % from last quarter Total Income of Rs 4601.00 Crore and up 16.93 % from last year same quarter Total Income of Rs 6550.05 Crore. Company reported net profit after tax of Rs 530.00 Crore in latest quarter.


Investment Rationale
The stock has resumed its uptrend after breaking out of a consolidation pattern. Further, volumes have picked up in the recent bull candles and also in the breakout candle, confirming the bullishness. Technical indicator RSI is also confirming that the stock is trading in the bullish territory.

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 others 17.7 per cent.