Global brokerage CLSA has revised its goal value on Titan, rising it to Rs 3,150 per share.
The Tata Group Company plans to increase its retail enterprise with addition of practically 140-150 shops in the course of the monetary yr 2024.
Titan Company Ltd inventory has given great returns to its buyers up to now three years, rising their cash by greater than two instances within the interval. Titan is a heavyweight inventory on the Indian bourses with a market capitalisation of practically Rs 2.29 lakh crore on the Bombay Stock Exchange.
This favorite inventory of the Indian inventory market’s iconic veteran investor and Big Bull late Rakesh Jhunjhunwala, has given returns of 169 p.c to its buyers over the previous 5 years.
Rakesh Jhunjhunwala’s spouse Rekha Jhunjhunwala has additionally not too long ago elevated her shareholding in Titan. For the quarter ended March 31, 2023, Titan’s shareholding sample exhibits that Rekha Jhunjhunwala holds a complete of 4,69,45,970 fairness shares of the corporate, aggregating to a 5.29 p.c stake in it.
Shares of this Tata Group Company closed at Rs 2,580.8 per piece, up 0.5 per cent, on BSE on Thursday. In the previous three years the corporate’s shares have elevated 164 per cent. However, over the previous six months, the inventory has dropped by 2.5 p.c.
Global brokerage CLSA has revised its goal value on Titan, rising it to Rs 3,150 per share, which aggregates to a possible upside of twenty-two.33 p.c in comparison with Thursday’s closing value, led by Titan’s development indicators.
CLSA values Titan’s eyecare enterprise at $1.9 billion and estimates the enterprise to develop by 3.3 instances within the subsequent 5 years, on the again of the latest fund elevating by Lenskart as a reference for valuation, in accordance with CNBCTV18.
The Tata Group Company plans to increase its retail enterprise with addition of practically 140-150 shops in the course of the monetary yr 2024. This growth plan will embody the corporate’s high brands- Tanishq, Mia, CaratLane, and Zoya.
Bengaluru-based Titan Company Ltd is a number one participant within the manufacturing and sale of watches, jewelry, eyewear and different equipment.
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