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Shares of Titan hit 2-week high on Q3 jewellery business growth. The stock jumped as much as 2.9 per cent to Rs 869.40, its highest since December 20.
The company had said on Tuesday that the jewellery division saw double-digit retail growth. Titan expects sunglasses division to pick up in Q4 on GST rate cut.
According to Motilal Oswal analysts, regulations governing jewellery segment in India, including GST implementation and crackdown on black money, favour organised players such as Titan. 25 of 29 brokerages have rated the stock as “buy” or higher, two "hold” and two “sell” or lower; the median price target is Rs 775.
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