Rakesh Jhunjhunwala has 3.75 crore equity shares in this company and his wife Rekha Jhunjhunwala has 96.6 lakh shares.
Jewelery, a lifestyle company that makes fashion accessories along with eyewear and watch, is Titan’s favorite company, Rakesh Jhunjhunwala, the big bull in the stock market. Rakesh Jhunjhunwala holds 3.75 crore equity shares in this company and his wife Rekha Jhunjhunwala has 96.6 lakh shares.
The total value of Jhunjhunwala’s share in the company is more than Rs 7520 crore as per the current share price of Titan at Rs 1594.60. The eyewear and audio accessories business has grown tremendously with the company’s jewelery business. Because of this, market experts say that 100% growth in the company’s profit can be seen in Q4, the last quarter of FY 2020-21.
Brokerage firm Prabhudas Lilladher says that the company’s net profit in Q4 could increase to Rs 713,70 crore from 356.80 crore in the previous quarter. At the same time, the company’s sales have increased by 61% and it has increased from Rs 4428.80 crores to 7224.40 crores.
Titan’s stock has seen a strong boom today. Titan’s shares today strengthened to a maximum level of Rs 1,618. However, Titan shares closed at Rs 1594.60, up 1.48% today. The company’s shares have risen 58% in the last 1 year.
The country’s leading brokerage firms Motilal Oswal, Emkay Global and Yes Securities have given Titan a Buy rating. The company said that its earnings grew strongly by 61 per cent during the March 2021 quarter.
Titan’s jewelery business grew by 61% per cent. The company has performed better in the fourth quarter due to lower gold prices. The company has aggressively expanded into the country. The company has opened 26 new stores in FY21.
Recovery in watch business
In the fourth quarter, the watch business of Titan Company saw a 90 per cent recovery. The company added WOT stores in FY21. At the same time, the eyewear segment grew by 20% in Q4 and the company has opened 15 new stores. Titan’s second business also saw overall recovery of 80%.
Target price kept so much
Brokerage house Motilal Oswal has given a target price of Rs 1800 for Titan stocks. At the same time, Yes Securities has advised to buy its stock keeping in mind the target of Rs 1700. Whereas, Emkay Global has given a target price of Rs 1650 for the share of Titan.
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