3 weeks ago
Titan shares at record high; brokerages split on targets
Titan is a company that makes jewellery, and it belongs to the Tata group.
People who buy parts of companies, called shares, were very happy because Titan's share price went up a lot.
It hit a new record high on Monday when its price rose by 3.6%.
One famous investor named Rekha Jhunjhunwala owns a big piece of Titan, and her part is worth about Rs 23,960 crore.
Many smart money experts called analysts study the company and guess what its shares will be worth later.
Some experts think the shares will keep going up, so they set high target prices like Rs 6,000.
Others worry that competition will make it harder for Titan to grow, so they think the shares may fall.
The experts disagree because the future of gold prices and how many people buy jewellery is hard to predict.
Even though they disagree, everyone is watching Titan closely because it is one of the most talked-about shares in India.
The company's recent growth and its exchange program are some reasons experts feel positive about it.
Titan shares rose 3.6% on Monday to a record high of Rs 5,121.30 on BSE.
Rekha Jhunjhunwala held a 5.31% stake in Titan worth Rs 23,960 crore at the end of the June quarter.
Emkay set a target of Rs 5,600, citing Titan's strong track record and growth outlook.
MOFSL reiterated a BUY rating with a Rs 6,000 target, keeping Titan a top pick.
HDFC Institutional Equities maintained a 'Reduce' rating with a Rs 4,350 target, citing competition and tough comparables.
- Who
- Titan, the Tata group jewellery company; investor Rekha Jhunjhunwala; and brokerages including Emkay, Elara, MOFSL, ICICI Securities and HDFC Institutional Equities
- What
- Titan shares hit a record high while brokerages issued diverging target prices for the stock
- Where
- On the BSE in India
- When
- On Monday, following the end of the June quarter
- Why
- Strong growth outlook, gold price stability and industry formalization support bullish views, while competition and tough comparables raise caution
Bullish on Titan
Cautious on Titan
Valuation and target price
Bullish on Titan
Emkay, MOFSL and ICICI Securities raised or reiterated high targets (Rs 5,500-6,000), seeing continued re-rating toward a 60 times multiple.
Cautious on Titan
HDFC Institutional Equities kept a 'Reduce' rating with a DCF-based target of Rs 4,350, suggesting the stock is overvalued.
Growth outlook
Bullish on Titan
Brokerages expect strong growth, including 25% Q2 growth and an 18% sales CAGR, supported by gold price stability and industry formalization.
Cautious on Titan
HDFC warned that tough comparables and intensified competition may weigh heavily on jewellery demand in H2FY27.
Rating after price run-up
Bullish on Titan
Firms like Elara raised their target to Rs 5,300 from Rs 5,100 while still seeing upside.
Cautious on Titan
Elara downgraded its rating to 'Accumulate' from a stronger stance due to the 22% run-up in the stock over the past two months.
Key facts
- Record high share price
- Rs 5,121.30
- Monday's gain
- 3.6%
- Jhunjhunwala stake
- 5.31% (end of June quarter)
- Stake value
- Rs 23,960 crore
- Emkay target
- Rs 5,600
- MOFSL target
- Rs 6,000 (BUY)
- ICICI Securities target
- Rs 5,500 (raised from Rs 5,250)
- HDFC Institutional Equities target
- Rs 4,350 (Reduce)
Quotes
Emkay Securities
Equity research analyst at Emkay Securities
“"We expect Q2 growth to be 25 per cent, supported by favorable calendar as the Shradh period shifts partly to Q3."”
businesstoday.in
“"We reiterate our BUY rating on the stock with a target of Rs 6,000, based on 60x Sept’28E EPS."”
businesstoday.in
Sources
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