Shares of Titan Company Ltd hit their 52-week low on Wednesday, falling for the fourth straight session amid high volatility in the broader market. Late investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala owned 1.07% or 95.40 lakh shares of Titan Company during the period in the December 2024 quarter. The stock fell to a 52-week low of Rs 2,996.05 against the previous close of Rs 3044.55 on BSE.
The stock hit an all-time high of Rs 3,866 on September 30, 2024.
The large-cap stock opened lower at Rs 3,039.35 on BSE. Market cap of the firm slipped to Rs 2.67 lakh crore.
Titan stock is trading lower than the 5-day, 10 day, 20-day, 30 day, 50-day, 100-day, 150 day and 200-day moving averages.
RSI of the firm stands at 34.3, implying that the stocks is trading neither in the oversold or overbought zone.
Brokerage Macquarie has maintained its outperform call with a target price of Rs 4000 (reduced by 4%). Titan remains the preferred pick in the consumer space said Macquarie adding that a rise in gold lease costs for smaller players strengthens Titan's competitiveness. Macquarie reduced its FY25-27 EPS by 3-4% due to higher lease costs (Trump's tariff) and near-term impact on jewellery demand from rising gold prices. Another brokerage Goldman Sachs has maintained a buy call with a target price of Rs 3,900. It added Titan to its Asia-Pacific conviction list. The brokerage said Titan has taken a one-time reset of margins to improve its price competitiveness.
BofA has a price target of Rs 3,980 for the Titan Company stock. The brokerage expects healthy mid-to-high teens revenue and earnings growth and market share gains from Titan, looking beyond the volatility in gold prices for the very short term. Focus on gold exchange, golden harvest advance purchase schemes, wedding segment push will help the stock remain resilient amid the consumption slowdown, according to BofA.
Motilal Oswal has a price target of Rs 4,000 on the Titan Company stock.
"With the jewellry industry seeing faster formalization, we continue to believe TTAN will keep leveraging the same, driven by store additions, multi-format presence, better designs and customer understanding, and a strong recall of trust," said the brokerage.
Mirae Asset Sharekhan has a price target of Rs 4,067 on the Titan stock. It has a buy call on the stock.
"Sustained growth in the jewellery business coupled with scaling up and improving profitability of other businesses will drive medium to long-term growth. Stock trades at 80x/61x/51x its FY25E/FY26E/FY27E earnings, respectively. We maintain a Buy with a revised price target of Rs 4,067," said Sharekhan.