Tata Stock Showing Upside Sign, Get "Buy" Call, Suggested By Top Broking House

Bonanza, a leading brokerage firm, has assigned a "Buy" on Titan Company Ltd. The brokerage has estimated a target price of Rs 2,875 apiece, claims a potential upside of 18% from its current level. Titan Company is Tata Group's large-cap company. It is a leading player in the Jewellery, Watches and Eyewear categories with several successful brands such as Tanishq, Titan Titan Eyeplus, Skinn, Caratlane, Mia, Sonata, Taneira, and Fastrack. Check below to know more about the stock:

Titan Company - Current Market Price, Returns, and 52-Week Low/High

The shares of Titan Company last traded at Rs 2,450.35 apiece, up 2.14% from its previous close of Rs 2,399.10 apiece. In the past 1 week, the stock has performed well, surged 3.47%.

However, it has fallen 2.86% in 1 month and 1.31% in 3 months, respectively. The stock has fallen 5.29% in the past 1 year. It gave 142.29% positive return in 3 years and 178.69% positive return in 5 years, respectively.

It hit the 52 week high on 31st October 2022 at Rs 2,791 apiece and 52 week low on 1 July 2022 at Rs 1,825.05 apiece, respectively. It has a market capitalisation of Rs 2,17,538 crore.

Initiate Coverage with Buy - TP of ₹2,875

According to the brokerage, The outlook for Titan remains robust with a positive view and expectations of stable gains in margins on account of scale-up in the emerging businesses, robust growth in Eyewear segment and expectations from Jewellery business to augment due to latest wedding trends. "We expect Titan to deliver Revenue/EBITDA/PAT CAGR of 28%/27%/29% and the ROE/ROCE to reach at 22%/32% respectively by FY24E. We initiate coverage rating a BUY with a Target Price of ₹ 2,875 (78x 5 yr avg. P/E for FY24E forward EPS of 36.9) and a potential upside of 20%," Bonanza said.

Disclaimer

The stock has been picked from the brokerage report of Bonanza. 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 consult with certified experts before making any investment decision.