Titan share price: Buy Titan Company, target price Rs 1450: Emkay Global


Emkay Global has buy call on Titan with a target price of Rs 1450. The current market price of Titan Company Ltd. is Rs 1429.2.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 126536.16 Crore) operating in Gems and Jewellery sector.

Financials
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.

titan

Investment Rationale
The exit from Mont Blanc – another loss-making venture – and the scale-down of Favre Leuba are steps in the right direction and should improve overall profitability and enable Titan to invest in its core growth businesses.


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 per cent and public and others 18.1 per cent.





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