Titan Share Price: As the Indian markets continue its gaining streak for the eighth straight session amid a largely positive trend in global markets on Thursday, domestic brokerage firm Motilal Oswal Financial Services is bullish on a Tata Group Stock and has recommended Buy. It said that the stock -- Titan, can deliver up to 25 per cent return from the current market price.
Motilal Oswal in its report said that Titan's earnings compound annual growth rate (CAGR) is expected to be 31 per cent during FY22-24. 

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The brokerage firm noted that Titan has delivered a positive return of 20 per cent in a span of last 6 months and recommended buying for a price target of Rs 3210.

Titan To Open 600 New Stores

By FY27, the company's sales figures are expected to increase two and a half times the FY22 figures, the brokerage said. The sales CAGR is estimated to be around 20 per cent. The company has set a target of opening 600 new Tanishq stores in the next three years. Tanishq had 389 stores as of March 2022.

Motilal Oswal said that Titan's growth is strong and in the last three years, profit after tax (PAT) CAGR has been 27 per cent and revenue CAGR has been 20 per cent.

Jewellery Giant

The report said that the growth of the jewellery segment is in a strong position. The company's market share holds around 10 per cent in the jewellery business. However, the company continues to face a challenge from unorganised competitors.

Titan's stock has delivered a whopping 230 per cent returns in the last 5 years. The stock has a market cap of Rs 2.35 lakh crore and has a 52-week range of Rs 2,791.00 to Rs 1,825.05

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