Buy or Sell or Hold Titan Stock :Today is a bad day for Titan Company, the multibagger stock of Jhunjhunwala portfolio. Titan stock fell almost 7 percent today at Rs 3285 (Titan Company Stock Pricehas come. Whereas on Friday it closed at Rs 3534. Last week, the company had released its quarterly results, which were weaker than market expectations. The company’s profit has declined by about 7 percent on annual basis to Rs 786 crore in the March quarter. The company’s net sales have increased by 17 percent on annual basis to Rs 10,047 crore. At present, after the quarterly results, the opinion of the brokerage houses is mixed. Some brokerages have also reduced the target price for the share.
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Rating and target of brokerage house
Motilal Oswal
Rating: Buy
Target price: Rs 4100
sharekhan
Rating: Buy
Target price: Rs 3990
JM Financial
Rating: Buy
Target price: Rs 3825
goldman sachs
Rating: Buy
Target price: Rs 3950
Nuwama
Rating: Hold
Target price: Rs 3867, earlier Rs 4106
City
Rating: Neutral
Target price: Rs 3650
ubs
Rating: Neutral
Target price: Rs 3900
CLSA
Rating: Buy
Target Price: Rs 4270, Rs 4547
morgan stanley
Rating: Equal-weight
Target Price: Rs 3526, Rs 3290
Jefferies
Rating: Hold
Target price: Rs 3600
JP Morgan
Rating: Overweight
Target price: Rs 3850, earlier Rs 3950
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What does the brokerage have to say?
Brokerage house Motilal Oswal says that Titan Company remains the top consumer discretionary company in India. However, the brokerage firm cut its earnings per share (EPS) estimates by 6 per cent and 5 per cent for FY25E and FY26E. The brokerage house believes that demand sentiment may be affected due to rising gold prices, due to which the near term outlook of Titan Company looks weak. However, this is a normal trend during periods of inflation. Despite near-term jitters, the company remains aggressive in its growth outlook, driven by new store additions, attractive designs and market share gains. Titan has also maintained a jewelery EBIT margin of 12-13 per cent for FY2025.
According to brokerage house JM Financial, revenue was in line with expectations, but segment profits overall declined by about 3 per cent due to lower margins across all segments (weak gross margins in jewelery and lack of operating leverage in other segments). Watches & Eyeglasses The performance of the K segment has been volatile, and more work is needed before reaching steady state. The brokerage firm believes that fluctuations in gold prices, elections and shorter wedding dates are likely to impact growth and margins in the near term.
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How were the company’s quarterly results?
The profit of Titan Company has declined by about 7 percent on annual basis in the March quarter to Rs 786 crore. The company’s net sales have increased by 17 percent on annual basis to Rs 10,047 crore. Which was Rs 8553 crore in the same quarter a year ago. The company board has announced a dividend of Rs 11 per share for the financial year 2024. The company’s EBIT increased by 8 percent on an annual basis to Rs 1139 crore in the March quarter, while the EBIT margin declined by 95 basis points to 11.1 percent.
Talking about watches and wearable business, the total income in these segments in the March quarter has increased by 8 percent on an annual basis to Rs 940 crore. Whereas domestic business has increased by 9 percent on annual basis during this period.
(Disclaimer: The advice for investing or selling stocks has been given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
