Buy Titan Company, target price Rs 2320: ICICI Direct

ICICI Direct has buy call on Titan Company with a target price of Rs 2320. The current market price of Titan Company is Rs 2236.85. Time period given by analyst is Intra Day when Titan Company Ltd. price can reach defined target.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 198637.71 Crore) operating in Gems and Jewellery sector.

Titan Company Ltd. key Products/Revenue Segments include Jewellery, Watches, Gold, Eyewear, Traded Goods, Precious & Semi Precious Stones, Other Operating Revenue, Other Services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 7872.00 Crore, down -22.01 % from last quarter Total Income of Rs 10094.00 Crore and up 4.25 % from last year same quarter Total Income of Rs 7551.00 Crore. Company reported net profit after tax of Rs 527.00 Crore in latest quarter.

Investment Rationale
Falling channel breakout containing entire decline and RSI in buy mode.

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.77 per cent, DIIs 11.26 per cent.