HDFC Securities has given Titan Company Ltd (NS:TITN) a target price of Rs 1,400, a 17% potential decrease from its current price of Rs 1,688. It says the estimated outlook for Q1 FY22 is weak and that it has built in -2% EBIT margin at company level. HDFC (NS:HDFC) Securities expects 1/-11/-12% EBIT margins for jewellery/watches/eyewear respectively. It has also built in a 55.5% topline growth for Titan (two-year CAGR -23%).
Stay Cautious