ICICI Direct has given a buy rating to Titan with a target price of Rs 1244. The share price moved up by 0.26 per cent from its previous close of Rs 1215.15. The stock’s last traded price is Rs 1218.30.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 107981.43 Crore) operating in Gems and Jewellery sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 4127.00 Crore, up 201.68 % from last quarter Sales of Rs 1368.00 Crore and down -10.30 % from last year same quarter Sales of Rs 4600.71 Crore Company reported net profit after tax of Rs 174.00 Crore in latest quarter.


Investment Rationale
Price rebound after taking support at 61.8% retracement of Sep-Oct up move

Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 18.1 per cent, DIIs 11.3 per cent and public and other 17.7 per cent.

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