Titan share price target: What should investors do with Tata group jewellery stock?

Titan share price target: Titan shares gained on Monday, June 3 after global brokerages revised their targets on the Tata group jewellery and watchmaker. Halting the three-day declining trend, Titan shares rose as much as 2.8 per cent to the day's high of Rs 3,332.95 on NSE in early morning deals amid broad-based buying on D-Street. The counter closed at Rs 3,260, up 0.56 per cent on NSE.

Titan share price target: Should you buy, sell or hold?

Macquarie has continued with an outperform rating on Bengaluru-headquartered Titan—whose popular brands include Fastrack, Sonata, Octane, Tanishq, CaratLane, Zoya and EyePlus with a target of Rs 4,000 apiece.

Global brokerage Goldman Sachs has maintained a buy call on the counter. The brokerage, however, has reduced the target to Rs 3,800 apiece from Rs 3,950 earlier.

CLSA too has maintained a buy call on the Tata group stock with a reduced target of Rs 4,045 apiece.

Meanwhile, Jefferies has retained a hold call with a target of Rs 3,600 apiece. JP Morgan has maintained an overweight rating with a target of Rs 3,850 apiece.

Titan Q4 results: How did Titan fare in March quarter?

Titan reported a 7.1 per cent year-on-year increase in net profit to Rs 786 crore for the January-March period, over revenue growth of 17 per cent. Analysts had estimated the Tata group jewellery and watch maker's quarterly net profit at Rs 799 crore, according to a Reuters poll. 

Analysts and traders said increased gold prices could dull demand during the wedding season in the country, forcing many retailers to offer large offers to lure customers.

For all other news related to business, politics, tech and auto, visit Zeebiz.com.