1:10 Split, Rs 10/Share Dividend: This Tata Stock Made Rekha Jhujhunwala Millionaire, Buy?

Large cap Tata Group stock Titan Company Limited shares soared nearly 1290% in last 10-years and gave major boost to the wealth of ace investor Rekha Jhunjhunwala. Last trading price of Titan Company Limited share on BSE is Rs 3754.85 per share with intraday fall of 0.75%. Titan Company Limited shares declined 1.31% thus offering investors an opportunity to buy the stock on dips. Brokerage firm Sharekhan has decided to retain a buy on Titan with a revised price target of Rs. 4,112 per share. According to the analyst, "strong growth outlook, focus on sustained market share gains, and strong balance sheet makes it the best play in the discretionary space, said Sharekhan. Check details below:

Rekha Jhunjhunwal Stake In Titan: As of December 31, 2023, Rekha Jhunjhunwala held 47,695,970 equity shares representing 5.4% stake in the large cap company. As of January 20, 2024, Rekha's shareholding in Titan is estimated at more than Rs 18,051 crore. Last year in September 2023, Titan share price zoomed by Rs 200 in just one month which boosted Rekha's net worth by more than Rs 950 crore as the stock rose from Rs 3219 to Rs 3422 in just one-month span.

Titan Company Quarterly Update: According to the BSE filing of Titan dated April 5, "Jewellery domestic operations grew c.19% YoY led by both buyers and same store sales clocking healthy doubledigit growths. Growth was similar across gold (plain) and studded segments. Tanishq added a new store in Dubai and Chicago (USA) during the quarter. Of the 27 new store additions (net) in India, 11 stores were added in Tanishq and 16 stores were added in Mia."

Watches & Wearables domestic business grew c.7% YoY comprising of c.7% Revenue growth in analog watches and c.2% growth in Wearables. Helios channel housing Titan and International brands grew fastest in the analog portfolio clocking a healthy double-digit growth. 44 new stores were added in the quarter consisting of 10 stores in Titan World, 20 in Helios and 14 in Fastrack respectively, added the BSE filing.

Titan Company Share Performance & Return: The 52-week high price of Titan Company share on BSE is Rs 3885.00 per share and 52-week low price is Rs 2545.00 per share, respectively. Titan Company shares gave return of 17% in last 6-months, rose by 46% in last 1-month, and witnessed rally of 145% in last 3-years. In last 5-years, Titan Company shares surged 239%.

Titan Company Stock Split History: Titan Company undertook stock split once since June 23, 2011. Titan Company split the face value of its shares from Rs 10 to Re 1 in 2011. Titan share traded ex-split on June 23, 2011.

Titan Company Bonus Share History: Titan offered 1 bonus issue since June 23, 2011. The last bonus issue that leading gems & jewellery company declared was in the ratio 1:1 with ex-bonus date fixed as June 23, 2011.

Titan Dividend History: Titan Company announced 23 dividends since July 30, 2001. In last 12 months period, Titan Company announced an equity dividend amounting to Rs 10.00 per share. At the current share price of Rs 3754.85 per share, Titan's dividend yield is 0.27%.

Sharekhan Gives Buy Call: The brokerage firm assigned buy call on Titan with a revised price target of Rs. 4,112 and the stock trades at 46x/40x its FY2025E/26E EV/EBIDTA. Jewellery business continues to shine, registering a 23% y-o-y growth driven by double-digit growth in footfalls. Titan is eyeing a revenue CAGR of over 20% during FY2022-FY2027 led by an ambitious growth plan in the medium term. Though this will have some hit on margins initially, it expects consistent growth and improved mix to drive margins in the long run, said Sharekhan.

About: Titan Company Limited ("Titan"), a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery (Tanishq) and subsequently into EyeCare. The

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.