Buy Titan Company, target price Rs 2675: ICICI Direct

ICICI Direct has buy call on Titan Company with a target price of Rs 2675. The current market price of Titan Company Ltd. is Rs 2536.9.

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 225209.15 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 30-09-2021, the company reported a Consolidated Total Income of Rs 7548.00 Crore, up 114.49 % from last quarter Total Income of Rs 3519.00 Crore and up 64.05 % from last year same quarter Total Income of Rs 4601.00 Crore. Company reported net profit after tax of Rs 641.00 Crore in latest quarter.

Investment Rationale
Buying demand at the 20 day-EMA and the rising demand line joining lows since August 2021

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.06 per cent, DIIs 10.1 per cent.