Tata Stock Trading Ex-Dividend For 1000% Dividend, Buy With Target Price Of Rs 3350

Large cap Tata Group Stock operating in gems & jewellery sector, Titan Company Ltd will go ex-dividend on July 13, 2023 for a dividend of Rs 10.00 per equity share (or 1000%) of Re 1 each of the company. Titan Company shares witnessed a decline of over 3.20% intraday to Rs 3044.10 per share. Meanwhile, Chola Wealth Direct has recommended buy call to Titan Company share with a target price of Rs 3350 per share. If you buy Titan share now at current market price of Rs 3044, you can obtain likely return of 10%. Check details below:

Titan Company Announced 1000% Dividend On May 3, 2023: As per the BSE filing of Titan Company, "The Board has recommended a Dividend of Rs 10.00 per Equity Share of Re 1 each of the Company which shall be paid/dispatched on or after the seventh day from the conclusion of the 39th Annual General Meeting subject to approval of the shareholders of the Company."

The ex-dividend date of Titan Company share is Rs July 13, 2023.

Titan Company Stock Performance & Return: Current market price of Titan Company share is Rs 3044.10 apiece on BSE with intraday fall of 3.20%. Its 52-week high price is Rs 3211.10 per share and 52-week low price is Rs 2108.05 per share, respectively. The company has a market capitalisation of Rs 2,70,250.98 crore. In last 3-months, Titan Company shares offered return of 18%, 23% return in last 6-months, 42% return in last 1-year, 77% gain in last 2-years, and jumped 216% in last 3-years. In last 5-years, Titan Company stock witnessed a gain of 265%.

Titan Company Valuation: According to Chola Wealth Direct, "Titan Ltd. is in a long-term upward trajectory from early Nov'2020, confirmed by crossover of SMA (21,100) on weekly chart. Our short-term price target for the stock is 3350 levels which is about 161.8% Fibonacci extension of price correction from 2800 levels to 1800 levels. Having regard to aforesaid triggers, we have a buy recommendation on the stock at current levels at 2860 with stop loss of 2600 and a target of 3350 - 3400."

The analyst has recommended to keep the stop loss at Rs 2600 apiece. The brokerage firm has given a time period of 3-months when the stock will realise its target price of Rs 3350 per share.

About Titan: 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, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Chola Wealth Direct. 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.