Rakesh Jhunjhunwala’s favourite stock, Titan Company Ltd, has gained nearly 13 in the last one month on the reverse of strong dailyearnings.Rakesh Jhunjhunwala’s favourite stock, Titan Company Ltd, has gained nearly 13 in the last one month on the reverse of strong daily earnings. Titan reported a 222 rise in net profit on- time base while profit grew 66. Judges at global brokerage enterprises have reiterated their positive views on the stock awaiting as much as 25 upside from current situations. The big bull Rakesh Jhunjhunwala has been a shareholder of Titan for over a decade and his stake in the company is the largest among his portfolio. Rakesh Jhunjhunwala lately increased his shareholding in the company, for the first time since December 2019.
.Titan’s alternate daily results surprised the brokerage establishment as cost control and better product blend drove stronger than anticipated 13 jewellery periphery. “ We see winds in Titan deals growth instigation as its investments in store additions, product design, marketingetc. allow it to grow ahead of the assiduity,” judges at Macquarie said in a note. They added that structure blocks are in place through hallmarking morals to drive advanced translucency/ compliance in the medium term. The brokerage establishment has raised FY22E EPS by 13 to factor in alternate quarter results that and continued strength in jewellery, watch and eyewear perimeters. The target price implies nearly 25 upside from current situations. The astral alternate quarter performance was better than estimates projected by Morgan Stanely judges. The brokerage establishment said that the result was 15 ahead of their estimates. The brokerage establishment stressed operation’s auspicious outlook for the company. “ Operation remains confident about the forthcoming gleeful season. It’ll continue to invest in growth in all business parts given the request share occasion,” said Morgan Stanley. Increase in Covid-19 cases and a detention in civic consumption recovery are seen as some pitfalls to theupside.Analysts at Haitong were impressed by the daily earnings of Titan, which was better than their estimates. “ Jewellery, Eyewear and others member are trending well above preCOVID situations while Watches reported strong successional growth and is inching near topre-COVID situations,” the brokerage establishment said. “ We increase our EPS estimates for FY22-24 by3.2-6.7 driven by strong reanimation in optional spends and robust store addition plans. We raise our TP from Rs to Rs as we roll over to our March 2024 EPS of Rs 40. Titan remains a top pick in the Consumer Optional member for the Chinese brokerage establishment. The target price implies nearly 13 upside.