5 days ago
Motilal Oswal Sees 20% Upside for Titan Stock
Motilal Oswal believes Titan Company’s stock could rise by about 20%.
It gave the stock a Buy rating and a target price of ₹6,000.
Titan is a major jewellery company with a strong brand.
The company has many stores and sells products through different formats.
It has only about 8.5% of the jewellery market, leaving room to grow.
The brokerage expects Titan’s sales and profits to grow strongly through FY29.
Stable gold prices could make it easier for Titan to manage its profit margins.
However, the shares were recently under pressure and had fallen over the previous month.
Motilal Oswal reiterated a ‘Buy’ rating on Titan Company with a target price of ₹6,000 per share.
The brokerage expects Titan to benefit from its market position, expanding store network and established brand equity.
Motilal Oswal projects FY26-29E compound annual growth of 17% in sales, 21% in EBITDA and 23% in APAT.
Titan shares were trading 0.4% lower at ₹4,985 on BSE during Friday’s session, extending a one-month correction.
The brokerage said stable gold prices could improve Titan’s margin visibility and support its outlook.
- Who
- Titan Company and brokerage Motilal Oswal.
- What
- Motilal Oswal maintained a Buy rating on Titan and set a ₹6,000 share-price target, implying around 20% upside.
- Where
- Titan shares were trading on BSE.
- When
- The report was released on Friday, September 11; the cited trading data was recorded at 1:08 p.m. that day.
- Why
- Motilal Oswal expects Titan to benefit from its market position, store expansion, brand strength, industry growth and potentially more stable gold prices.
Key facts
- Brokerage view
- Buy rating from Motilal Oswal
- Target price
- ₹6,000 per share
- Approximate upside
- Around 20%
- Cited share price
- ₹4,985 on BSE, down 0.4% during the session
- Market share
- Approximately 8.5% of the jewellery market
- Projected sales CAGR
- 17% for FY26-29E
- Projected EBITDA CAGR
- 21% for FY26-29E
- Projected APAT CAGR
- 23% for FY26-29E
Quotes
Motilal Oswal
Brokerage firm issuing the Titan Company research report
“We remain constructive on growth in the jewelry industry, particularly among top players, with TTAN as the bellwether and, given its superior historical execution track record, best positioned to benefit. We model a CAGR of 17% in sales, 21% in EBITDA, and 23% in APAT over FY26-29E.”
livemint.com
“We model a CAGR of 17% in sales, 21% in EBITDA, and 23% in APAT over FY26-29E. We reiterate our BUY rating on the stock with a TP of INR6,000, based on 60x Sept’28E EPS.”
livemint.com
Sources
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