Buy Titan Company, target price Rs 2830: Yes Securities

Yes Securities has buy call on Titan Company with a target price of Rs 2830. The current market price of Titan Company Ltd. is Rs 2703.25. 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 239968.60 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 31-12-2021, the company reported a Consolidated Total Income of Rs 10094.00 Crore, up 33.73 % from last quarter Total Income of Rs 7548.00 Crore and up 31.79 % from last year same quarter Total Income of Rs 7659.00 Crore. Company reported net profit after tax of Rs 1012.00 Crore in latest quarter.

Investment Rationale
The stock has resumed its uptrend after breaking out of an ascending triangle pattern consolidation phase. Further, a sustained trade above Rs 2,700 will take it higher to the levels of Rs 2,830. RSI too suggests an uptrend.

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of 31-Dec-2021, while FIIs owned 18.56 per cent, DIIs 10.29 per cent.