Titan stock rises sharply
Citi, Morgan Stanley, Prabhudas Lilladher and Motilal Oswal have given investment advice in Titan stock. The stock is expected to rise up to a maximum of 33 percent.
Tata group company Titan ,TitanThere is a sharp rise in the stock today. This increase in the stock has been registered after the company’s better sales figures of the last quarter. Company’s sales in the first quarter (Q1 Sales) has increased by 205 percent as compared to last year. Last year’s low base effect has also been the reason for this sharp rise. However, the growth of the company has been better than the estimates. The market was also excited by the company’s projections for further growth. For this reason the stock (Stock Trading) is seeing a sharp jump today. The special thing is that many broking firms remain positive regarding the stock. And also giving investment advice in it. Let us tell you that Titan stock is the preferred stock of investment guru Rakesh Jhunjhunwala. In such a situation, if you are looking for any investment opportunity, then you can also look at Titan.
Where did Titan’s stock reach?
Titan’s stock had reached the day’s high of 2170.95 on BSE today. The previous closing level of the stock was at 2013.40. That is, today the maximum increase of about 8 percent has been seen in the stock. The stock’s one-year high is 2,767.55. At the same time, the year’s low of the stock is 1,661.85. The stock has seen a decline since March. However, the returns of the last one year in the stock are still positive. A year ago the stock was trading below 1750. Talking about the company’s results, Titan’s jewelery sales have increased by 207 percent compared to last year, while the sales of watches and wearables have increased by 158 percent compared to last year. The company informed that the beginning of the financial year 2023 has been great. After the weak demand during the two years after the epidemic, now there is an increase in demand.
What is the opinion of market experts
Broking firm Citi has retained its investment advice in Titan. The broking firm has given a target of 2890 for the stock i.e. the stock is expected to increase by 33 percent even from its highest level of the day. Whereas Morgan Stanley has given investment advice for the stock with a target of 2621. That is, according to the broking firm, the stock can increase by 21 percent from here. On the other hand Prabhudas Lilladher has given investment advice in the stock with a target of Rs 2520 and Motilal Oswal with a target of Rs 2900.