Multibagger Tata Group Stock Zooms 6% As Sales Grew Double-digit, Buy Stock: Says Motilal Oswal

Titan, a top large-cap Tata Group stock has zoomed around 6% today in trade. The current market price of Titan closed at Rs. 2,730.20/share on NSE, up by 5.30%, at the time of writing. It is one of the most active equities today. Yesterday, the company reported a healthy double-digit growth across most businesses with overall sales growing 18% YoY, while its watch business grew 20% YoY, ticking its highest quarterly revenue.

Giving a buy rating to the stock Motilal Oswal said, "In the Jewelry industry, which is organizing at a rapid space, it is clearly at the vanguard in terms of growth among organized players. Its runway for growth is long, with a market share of 6%. Unlike other high-growth categories, the competitive intensity from organized and unorganized peers in Jewelry is considerably weaker." The brokerage firm estimated a target price at Rs. 2,970, for the stock of Titan.

Titan - stock performance

In the last 5 days, Titan's share price gained by 7.83%. In the last 1 year it has zoomed by 15.87%. However, in the last 2 years its share price has rallied by around 116%, and in the last 5 years its share price augmented significantly by 337.07%. It is a large-cap stock with a market capitalization of Rs. 242,410 crore.

The 52-week high level of this stock is Rs. 2,768, and the 52-week low level of this stock is Rs. 1,825.05.

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