This Tata Stock Showing Upside Potential, ICICI Securities Assigns "Add" Call, Gained 189% In 5 Yrs

ICICI Securities has assigned an "Add" call to Titan Company Ltd, a large-cap Tata Group Stock. The brokerage has estimated a target price of Rs 2,600/share to the stock for up to 11% gains. The company operates in diversified sectors and offers products such as Eyewear, Gems & Jewellery, and watches.

Stock Overview, Returns, & Market Cap

On NSE, the stock is currently trading at Rs 2,362.25/share. Today, it opened at Rs 2,354.85/share, while the previous close was 2,368.25/share. It has a market capitalization of Rs 2,09,406 crore.

The stock recorded its 52 week high on 31st October 2022 at Rs 2,791/share and 52 week low on 1st July 2022 at Rs 1,825.05/share.

It has fallen 1.38% in the past 1 week. Whereas, it has fallen 4.27% in 1 month and 9.65% in 3 months, respectively. In the past 1 year, it has fallen 4.25%. The stock has given 96.35% in 3 years and 188.49% in the past 5 years.

Valuation and risks

ICICI Securities has said, "We maintain our FY23-24E earnings estimates, modelling revenue / EBITDA / PAT CAGR of 23 / 29 / 31 (%) over FY22-24E. Maintain ADD with DCF-based target price of Rs 2,600."

Key downside risks: Irrational competitive environment and sustained weakness or worsening of macro environment leading to demand slowdown.

Disclaimer

The stock has been picked from the brokerage report of ICICI Securities. 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.