Buy Titan Company, target price Rs 1950: ICICI Securities

ICICI Securities has buy call on Titan Company with a target price of Rs 1950. The current market price of Titan Company Ltd. is Rs 1837.75. Time period given by analyst is Intra Day when Titan Company price can reach defined target.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 163104.07 Crore) operating in Gems and Jewellery sector.

Financials
For the quarter ended 30-06-2021, the company has reported a Consolidated Total Income of Rs 3519.00 Crore, down -53.40 % from last quarter Total Income of Rs 7551.00 Crore and up 74.21 % from last year same quarter Total Income of Rs 2020.00 Crore. Company reported net profit after tax of Rs 18.00 Crore in latest quarter.

Investment Rationale
Strong buying demand from the upper band of the recent range breakout area (1,790-1,663).


Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of March 31, 2021, while FIIs held 18.1 per cent, DIIs 11.5 per cent and public and others 17.5 per cent.