Religare is seeing a 24% gain in this stock of Rekha Jhunjhunwala.

“We forecast our Revenue / EBITDA / PAT to grow at a CAGR of 20.4% / 28.6% / 30.3% during FYs 2012-25. We maintain Buy with a target price of 2,977,” the brokerage firm said, adding that Titan is expected to retain its strong hold in the jewelery segment.

With decades of trust in the market on Titan among Indian consumers, its foray into other segments such as eyecare, fragrance, fashion accessories etc could work in favor of the company’s revenue generation. The company diversified its operations into sectors such as wearables, Indian wear, fragrances etc. The brokerage firm is optimistic that the firm will continue to benefit from the good traction of the jewelery segment in the domestic and international markets. The company’s strong penetration in the jewelery and wristwatch category is fueled by its high penetration in rural as well as international markets.

Titan’s Q3 Performance

Titan has performed mixed in the October-December quarter of FY 2022-23. Its revenue grew by 15.7% and gross profit by 9.2% on the back of strong demand due to the festive season. The company’s EBITDA margin declined 6.6% year-on-year and 276 bps year-on-year amid lower operating leverage and higher promotional and input cost expenses.

Rekha Jhunjhunwala’s wealth increased

According to the shareholding data released by Titan Company in its October-December 2022 quarterly report, Rekha Jhunjhunwala holds 4,58,95,970 shares of Titan, which is 5.17 per cent of the total paid-up capital of Titan Company Limited. Titan Shares 2387 on BSE on Wednesday. Significantly, Rekha Jhunjhunwala’s wealth has increased 1,000 crore after a jump in Titan’s share price from 2,310 2,535 Posts Union Budget 2023. Shares of Titan Company saw a rally after the budget announcement, which became a major attraction for stock investors in February. taiwan banned tiktok