Buy Titan Company, target price Rs 1615: ICICI Securities

ICICI Securities has buy call on Titan Company with a target price of Rs 1615. The current market price of Titan Company Ltd. is Rs 1491.65.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 132475.45 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 Crore and up 16.93 % from last year same quarter Total Income of Rs 6550.05 Crore. Company has reported net profit after tax of Rs 530 Crore in latest quarter.


Investment Rationale
Buying demand emerged from the previous breakout area and 50% retracement of the previous up move (1,154-1,621), thus provides favourable risk reward set up

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.