On Tuesday, Titan shares fell 0.64 percent on the BSE to Rs. It had closed at 2,467.30. On Monday, the shares of the company fell by 2 percent. Investors who have bought this Tata Group share note that Titan shares have been falling steadily since January 4, 2023. During this period, the share price of the company fell by 5 percent and on January 3, 2023, the share price crossed the Rs 2,600 mark.
Quarterly results of the company
On January 6, the company announced its quarterly results. The company’s sales rose 12 percent in the December quarter of the current financial year. Also segment-wise, Jewelery business grew by 12% (YoY), Watches by 14% (YoY), Emerging business by 75% (YoY). The company also opened 111 new stores during the third quarter.
What is the share of Jhunjhunwala?
Rekha Jhunjhunwala, wife of late stock market tycoon Rakesh Jhunjhunwala, is among the biggest investors in the company. Jhunjhunwala added shares to his portfolio in 2015. According to Trendlyne data, as of January 10, Rekha Jhunjhunwala had invested in Titan at around Rs. 12,144 crore shares.
Should you invest?
Brokerage Centrum has predicted positive results in the business segment if the pace of sales continues. Considering the growth in the company, the brokerage has given ‘Buy’ rating to the stock and fixed a target price of Rs 3,115. Note that the market cap of Titan Company is Rs 2.19 crores.
(Note: Here is information about stock performance only and is not investment advice. Investment in stock market is subject to risk, so you should consult an advisor before investing.)