Titan rallies 5% on hopes of healthy Q4 business outlook
Shares of Titan Company rallied 5 per cent to Rs 2,425.70 in Friday’s intra-day trade, on value buying, on expectation of healthy business outlook for the fourth quarter ended March (Q4FY23).
The stock of Tata group company hit six-month low of Rs 2,268 on Thursday, lowest level seen since July 2022. Despite Friday's run-up, in the past three months, the stock underperformed the market as shares fell 13 per cent, as compared to 1 per cent decline in the S&P BSE Sensex.
Titan's overall consolidated revenues grew 16 per cent year-on-year (YoY) to Rs 11,609 crore. Owing to lower than anticipated operational profitability, the profit after tax de-grew 10 per cent YoY to Rs 912.0 crore.
The stock of Tata group company hit six-month low of Rs 2,268 on Thursday, lowest level seen since July 2022. Despite Friday's run-up, in the past three months, the stock underperformed the market as shares fell 13 per cent, as compared to 1 per cent decline in the S&P BSE Sensex.
Titan's overall consolidated revenues grew 16 per cent year-on-year (YoY) to Rs 11,609 crore. Owing to lower than anticipated operational profitability, the profit after tax de-grew 10 per cent YoY to Rs 912.0 crore.
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