Sharekhan Research Report on Titan Companies

Titan witnessed a strong demand across its consumer business, with independent revenue growth of 36% Y-O-Y at Q3FY2022. Revenue grew by 18% in two years CAGR. We hope that OPM is higher by 150 bps because of better operating leverage. Jewelry business income grew by 37% Y-O-Y (29% CAGR for two years) led by strong wedding and wedding season demand. Watches and goggles across pre-covid sales. The emergence of the third wave of pandemic may be at risk of short-term performance and we are waiting for greater clarity in post-results management comments.

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Therefore, we maintain our estimated income and will examine it after the results are announced. Titan remains one of the top picks in the discretionary room. It is trading at 80.9x / 65.4x of FY2023 / 24E income. We maintain buying recommendations on shares with PT RS. 2900.

At 1:20 p.m. HRS Titan’s company quoted at Rs 2,577.25, down RS 19.50, or 0.75 percent.

It has touched the highest intraday RS 2,687.30 and Low intraday Rs 2,565.55.

It was traded with a volume of 143,510 shares, compared with an average of thirty days from 38,533 shares, an increase of 272.43 percent.

In the previous trading session, shares closed up 0.79 percent or Rs 20.35 at Rs 2,596.75.

This stock touched RS 2,678.10 high 52-weeks RS 1,396.25 RS 1,396.25 on October 18, 2021 and February 22, 2021, respectively.

At present, it is traded 3.77 percent below 52-weeks and 84.58 percent above the lowest level of 52 weeks.

Market capitalization stand at Rs 228,804.69 Crore.