Rekha Jhunjhunwala portfolio: After bottoming out in July 2022, Titan Company share price has been in uptrend for the last one year. In last one year, this Tata group stock has delivered over 40 per cent return to its shareholders whereas in FY24, this Rekha Jhunjhunwala stock has risen from around ₹2335 to ₹2935 apiece levels, logging to the tune of 25 per cent in this time. However, it seems that the stock has more steam left and there can be some more upside possible in this fashion and jewelry brand.
Titan share price today opened upside and went on to hit intraday high of ₹2935 on NSE, which turned out to be its new life-time high on NSE.
According to stock market experts, Titan share price is rising due to rising gold prices and better-than-expected Q4 results. They said that Rekha Jhunjhunwala portfolio stock has recently given breakout at ₹2920 to ₹2930 apiece levels and the stock is still looking positive on chart pattern. They gold prices are stable at higher levels and hence company is expected to continue reaping margin benefits on its buffer stocks and new business’ like smart watches and perfume is going to create new avenue for revenue for this Tata group company. They said that the stock may go up to ₹3670 apiece levels by the end of current financial year.
Gold rate today in focus
On how gold prices have fueled Titan share price in recent sessions, Anuj Gupta, Vice President — Research at IIFL Securities said, “Gold prices have ascended to the tune of more than 8 per cent in year-to-date time and it has been oscillating around its record levels for the last one quarter. This has helped Titan Company’s jewelry segment to reap margin benefits on its bugger gold stock. As gold prices are expected to continue uptrend on weak US dollar after ECB interest rate rise by 25 bps and other central banks across globe expected to follow shoot, the win-win situation for Titan Company is expected to further continue on soaring gold prices.”
On other triggers that is aiding Titan share price rally, Vaibhav Kaushik, Research Analyst at GCL Securities said, “Titan has reported better-than-expected Q4 results and is has forayed into smart watches and perfume business, which has given better results in monetary terms. The company’s guidance after the Q4 results showed confidence in its traditional and new business’ that has gone down well among the market participants.”
Titan share price target
Expecting Titan share price rally to continue further Sumeet Bagadia, Executive Director at Choice Broking said, “Titan share has given breakout at ₹2920 to ₹2930 levels and the stock is still looking bullish on chart pattern. It may go up to ₹3100 in short term. Those who have this stock in portfolio are advised to hold the stock for ₹3100 near term target whereas fresh investors can also buy the scrip at current market price for ₹3100 target. However, both will have to maintain stop loss at ₹2850 levels.”
Advising positional investors to hold Titan shares for long term, Vaibhav Kaushik of GCL Securities said, “Titan share price may go up to ₹3670 apiece levels by the end of current financial year.”
Rekha Jhunjhunwala shareholding in Titan Company
According to shareholding pattern of Titan Company, Rekha Jhunjhunwala holds 4,69,45,970 shares or 5.29 per cent stake in this Tata group company.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 16 Jun 2023, 02:07 PM IST