Multibagger Stock: Titan Company’s shares rose 6 percent, target of Rs 2970 given

Multibagger Stock In India: If you want to invest in the stock market, then let us tell you that there has been a good jump in the shares of Titan Company. Today there is a strong rally in the shares of Titan. In today’s trade, the stock has gained about 6 percent to reach Rs 2745. Whereas on Thursday it closed at Rs 2592.

Strong growth seen in company division
Let us tell you that Titan Company has released the share update for the September quarter. The company has also continuously increased the number of its stores. Brokerage House Motilal Oswal has given investment advice in the stock. The brokerage house says that the growth outlook of the company is very strong.

2970 target for the stock
Boquerage House Motilal Oswal has given investment advice in the stock and has kept the target at Rs 2970. In terms of current price of Rs 2593, it can give 15% return. According to the brokerage, the earnings growth outlook for Titan is strong. The jewelery division continues to grow well in the organized sector. The company’s market share in this segment is steadily increasing. Business growth has been good in all the segments of the company. Overall standalone sales are expected to grow at 18 per cent year-on-year during 2QFY23.

Growth seen in 105 new stores
Titan added 105 new stores to its network in the September quarter. Titan Management says that the consumer sentiment is looking better this festive season, which will benefit from opening new stores. The company’s growth in the jewelery division has been 18 per cent year-on-year in the September quarter. Watches and wearables have seen a 20 per cent year-on-year growth. Talking about iCare, there has been double digit growth in this segment on a yearly basis. F&FA has grown by 34 per cent year-on-year.

10.5x return in 10 years
The shares of Titan Company have had good profits in the long term. Talking about the last 10 years, the stock has gained almost 10 times. The stock has given nearly 1000 per cent return. 10 years ago, on October 10, 2012, the share price was Rs 260, which has now reached close to 2745 on October 7. If then someone would have invested Rs 1 lakh in the share, then it has become Rs 100.50 lakh.

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