Religare Broking Sees 10% Upside In Tata Jewellery Stock In Festive Season

Religare Broking sees an upside of 10% in the Tata Group stock, Titan Company Ltd and initiated a buy call with the target price of Rs 2877 apiece. The company has a market capitalisation of Rs 2,31,405.90 crore. According to Religare Broking, Titan Company's Revenue/EBITDA/PAT is expected to grow at 16.2%/26.8%/32% in FY22-24E. Check key takeaways below:

1. Titan Company Ltd Stock Outlook

The last trading price of Titan Company is Rs 2606 apiece with an intraday gain of 2.95% as on Friday, September 30, 2022. The stock's 52-week high is quoted at Rs 2767 apiece and 52-week low is 1827 apiece, respectively.

2. Titan Company Ltd Is Trading At 5% Discount

The stock is currently trading at a discount of 5% from its 52-week high level.

3. Titan Company Ltd Market Capitalisation

The company has a market capitalisation of Rs 2,31,405.90 crore.

4. Titan Company Ltd 5-Years Return

The stock has given a 5-years return of 345%, 3-years return of 104%, and 1-year return of 21%.

5. Manappuram Jewellers Inks Agreement With Titan Company Ltd

Earlier this month on September 22, Manappuram Jewellers has inked an agreement with Titan Company Ltd to produce gold and diamond jewellery for the Tata Group company. As per the reports, Manappuram Jeweller is scheduled to create premium gold jewellery as pe the particular requirements and designs provided by Titan. The agreement has the validity for 2 years.

6. Titan Company Ltd Latest Quarterly Results

The company for the quarter ended June 30, 2022 has announced a consolidated total income of Rs 9,487 crore, up 20% as against the previous quarter total income of Rs 7,872 crore. It has announced a net profit after tax at Rs 790 crore in the latest quarter.

7. Titan Company Ltd About

Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name Titan Watches Limited. Titan is the fifth largest integrated own brand watch manufacturer in the world.

Over the last three decades, Titan has expanded into underpenetrated markets and created lifestyle brands across different product categories. Titan is widely known for transforming the watch and jewellery industry in India and for shaping India's retail market by pioneering experiential retail, according to its official website.

Disclaimer

The stock has been picked from report of Religare Broking. 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.