Titan share price: Management reiterates confidence among investors - All you need to know

Considering the recent festive season business, the Company has given business updates for the information of the Investors. Titan Company saw good traction across all its businesses in the festive season. The Jewellery business witnessed a mid-teens growth (around 15%) for the 30-day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded Jewellery sales. The Watches and Wearables business also did quite well in the festive season with recovery close to last year levels. Eyewear business has also witnessed good traction.

The share price of the company made a 52 week high of Rs 1345 today. Profit booking was witnessed in the share price due to weakness in the market today. Titan made a 52 week low of 720 this year and has made an excellent recovery from lower levels. The stock has recovered over 85% from lows this year. The Tata group company has been a favourite for many FII’s, HNI’s, Institutions and Fund Managers. Rakesh Jhunjhunwala holds a significant stake in this company and often participates in investor concall to ask questions to the management regarding the business and further outlook of the company.

Due to coronavirus, many stores were closed during the initial stages of lockdown, however slowly and steadily management has reopened the stores and business is back to pre-Covid levels. It is important to monitor the marriage season from next month onwards; traditionally in Indian weddings, there is often good demand for jewellery which indicates the second half of FY21 will be strong for Titan’s Business.

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Technically, the stock is near its 52-week high and once it’s broken, analysts believe the stock can further move on the upside above Rs 1400 levels. Broking houses would be coming with revised targets after analysing the business update given by the management of the company.