Comments
Shares of Titan Company Ltd rose as much as 2.9 per cent to Rs 820 as Morgan Stanley has raised the price target to Rs 1,250 from Rs 1,120. It has retained the ‘overweight’ rating.
Titan is Morgan Stanley's top consumer pick as risk-reward is firmly skewed to the upside, given the company’s improved business positioning versus unorganised players, say Morgan Stanley analysts.
They expect policy measures that discourage cash transactions to eventually benefit the large organised jewellery players, with Titan gaining market share in jewellery segment. Q3 growth may be even stronger, thanks to a shift in the festive season, driving consensus estimates and stock valuations higher, the brokerage says.
About 22 of 31 brokerages rated the stock “buy” or higher, seven “hold” and two “strong sell”; their median price target is Rs 1,045, according to Thomson Reuters Eikon.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.