How Titan shares are faring after brokerages issue new ratings to Tata Group firm

Titan Share Price: After brokerage upgrades Titan's rating to 'buy' post second-quarter results, shares of the Tata Group company are trading flat on BSE on Monday (November 6, 2023).

The stock was trading flat at Rs 3,274.80 at 10:09 am on Monday after opening at Rs 3,338.00. The stock closed at Rs 3,272.55 in Friday evening hours before the company announced its September-quarter results. 

CLSA upgrades Titan to 'buy'

Brokerage CLSA has upgraded Titan to 'buy' from 'outperform'. The brokerage has raised Titan's share price target to Rs 3,948 from Rs 3,948. 

Morgan Stanley maintains 'equalweight' 

Morgan Stanley has maintained an 'equalweight' rating on the company with a share price target of Rs 3,190.

JP Morgan maintains 'overweight'

JP Morgan has maintained an 'overweight' rating with a target price of Rs 3,450.  

Jefferies maintains 'hold'

While Jefferies maintained a 'hold' on Titan, it riased tha target price to Rs 2,950 from Rs 2,650 

Goldman Sachs maintains 'buy'

Brokerage Goldman Sachs has maintained a 'buy' rating on the firm, increasing its target price to Rs 3,525 from Rs 3,425 

HSBC maintains 'buy'

HSBC has maintained a 'buy' rating on the company's share with a target of Rs 3,900 

Macquarie maintains 'outperform'

Macquarie has mantained its 'outperform' rating on the TATA Group compnay, raising its target to Rs 3,700 from Rs 3,600.

Titan Q2 numbers

Titan's net profit jumped 9.7 per cent to Rs 940 crore in the second quarter as against Rs 857 crore in the same quarter last year, while its revenue from operations grew by 33.6 per cent to Rs 11,660 crore YoY.

Titan's stand alone income rose by 21 per cent in Q2 to Rs 10,027 crore compared to Rs 8,308 crore in the corresponding period last year.