This Tata Group stock has risen 45% in 12 months; check its Q4 business update

Titan Company share price:  Shares of Titan Company, the glittering jewel of the Tata Group, were in focus on Monday, April 8, after the company released its March quarter business update (Q4 FY24) last week. The company reported a 17 per cent year-on-year (YoY) growth in revenue for the quarter under review, while its jewellery segment reported a sales growth of 18 per cent YoY. The watch and wearables segment's sales increased 6 per cent YoY and its CaratLane segment recorded a sales growth of 30 per cent YoY. 

The stock ended at Rs 3,742.65, down 0.32 per cent on the BSE.

A total of 86 stores (net) were added in the quarter. The retail network's presence stands at 3,035 stores.

EyeCare Division's revenue declined by around 1 per cent YoY. Titan Eye+ added a new store in Dubai taking the total count to four stores in the GCC region.

In Emerging Businesses, Taneira's revenue grew by around 37 per cent YoY. The brand opened 11 new stores during the quarter comprising eight new city additions.

The Fragrances & Fashion Accessories revenue grew by about 12 per cent YoY. Within businesses, revenue in Fragrances grew by around 9 per cent YoY, and revenue in Fashion Accessories grew 18 per cent YoY, as per the company's Q4 update release. 

Source: Titan's Q4 business update

Motilal Oswal Financial Services (MOFSL) has maintained a "buy" call on Titan Company stock with a target price of Rs 4,300. In a year, shares of the company have risen over 45 per cent, against a 28 per cent increase in the Nifty50 index.

Titan Company's shareholding pattern 

Source: Trendlyne