Business Desk – Titan Share Price: Shares of Tata Group company Titan remained under pressure. Along with this, the correction in the stock since last one month also continued. However, given the strong brand and market position, brokerage firm Motilal Oswal expects better performance of the stock going forward. The brokerage has given a target price of Rs 6,000 while maintaining BUY rating on Titan. This shows a potential upside of about 20% from Friday's closing price.
Margin benefit due to stable gold price
According to Motilal Oswal, stability in gold prices could improve the margins of Titan's jewelery business. The brokerage believes that due to its strong track record, Titan will remain among the leading players in the jewelery industry and is well positioned to benefit from the growth in the sector.
Titan is among the largest companies in the jewelery market, but its market share is currently around 8.5%. The growing store network, diverse format portfolio and strong brand values can help the company capitalize on the potential growth in the market.
Sales estimated to grow 17% CAGR in FY26-29
Motilal Oswal said in the report that it is positive about the growth of the jewelery industry and Titan is among the companies with the strongest position in this sector.
The brokerage estimates a CAGR of 17% in Titan's sales, 21% in EBITDA and 23% in APAT during FY26-29. The target price of Rs 6,000 has been set based on a valuation of 60 times the estimated EPS of September 2028.
stock performance
On Friday, Titan shares closed 0.23% lower at Rs 5,009 on the NSE. During trading it reached a high of Rs 5,014.30 and a low of Rs 4,943.75. The ROE of the company is 35.39%. The stock has fallen 2.58% in the last one month. However, it has given returns of about 23.8% in 3 months and about 38.99% in a year.
