Buy Titan Company, target price Rs 1750: Motilal Oswal

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Buy Titan Company, target price Rs 1750:  Motilal Oswal


Motilal Oswal has buy call on Titan Company Ltd. with a target price of Rs 1750. The current market price of Titan Company Ltd. is Rs 1545.25.

Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 139613.25 Crore) operating in Gems and Jewellery sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 4127.00 Crore, up 201.68 % from last quarter Sales of Rs 1368.00 Crore and down -10.30 % from last year same quarter Sales of Rs 4600.71 Crore Company reported net profit after tax of Rs 174.00 Crore in latest quarter.

Investment Rationale
The structural investment case for TTAN remains extremely strong. Maintain Buy with a TP of INR1,750 per share at 60x FY23E EPS.


Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 18.1 per cent, DIIs 11.3 per cent and public and others 17.7 per cent.





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