All eyes are now on Lok Sabha elections 2024 and all the major parties have begun gearing up for the big battle. However, Rahul Gandhi's portfolio has grabbed a lot of eyeballs after he revealed his portfolio worth over Rs 4.30 crore with holdings in 25 stocks.
Gandhi’s affidavit revealed maximum exposure to Pidilite Industries at Rs 42.27 lakh. However, Rahul Gandhi also owns Rs 32.58 lakh worth of Tata Group company Titan shares.
The Tata-owned stock remains a darling of investors after the company's strong performance in the third quarter of FY24. Rekha Jhunjhunwala notably owns a 5.37 per cent stake in the Tata group firm as of December 31, 2023.
Shares of Titan Company Limited ended per cent 1.98 per cent higher at Rs 3,786.50 on BSE in Thursday's trading session. The multibagger stock has delivered over 1,300 per cent return in the last 10 years. It is up over 18 per cent in the last 6 months and has recovered over 49 per cent from its 52-week low of Rs 2,545.
Titan's Q3 Financial Performance The company posted a 9.4 per cent rise in the third quarter standalone net profit to Rs 1,040 crore against Rs 951 crore in the December 2022 quarter. Standalone total income climbed 24 per cent to Rs 14,122 crore in the last quarter against Rs 11,383 crore profit in the December 2022 quarter.
A long runway of growth?
Motilal Oswal has also reiterated its 'BUY' rating on this Tata Group company with a target price of Rs 4,300 based on 65x FY26 EPS.
It said that Titan Company (Titan), with its superior competitive positioning, has continued to outperform other branded players. The brand recall and business moat are not easily replicable; therefore, Tanishq’s competitive edge will remain strong in the category.
"It will be critical to monitor the margin outlook amid intensifying competition. The non-jewellery business is also scaling up well and will contribute to growth in the medium term," it added.
Titan: About the company
Titan Company Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name Titan Watches Limited. It is the fifth largest integrated own-brand watch manufacturer in the world.