Buy Titan, target price Rs 1800: Motilal Oswal

Motilal Oswal has buy call on Titan Company with a target price of Rs 1800. The current market price of Titan Company Ltd. is Rs 1533.1.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 135968.89 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 4601.00 Crore and up 16.93 % from last year same quarter Total Income of Rs 6550.05 Crore. Company reported net profit after tax of Rs 530.00 Crore in latest quarter.


Investment Rationale
The structural investment case for Titan remains extremely strong. The brokerage maintains Buy, with TP of INR1,800 per share at 60x FY23E EPS.

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of Dec 31, 2020, while FIIs held 18.6 per cent, DIIs 11.2 per cent and public and others 17.3 per cent.