Titan stock rally as June quarter sales rose 205%

Titan Q1 update
Share

What's Driving the rally?

  • Titan stock zoomed after it reported strong sales numbers across the segments for first quarter of FY23 ended June 30.
  • Titan's first quarter sales grew 205% on-year on a low base and clocked a 3-year CAGR of 20.5% in growth.
  • The jewellery sales jumped by 207% on-year. watches and wearables climbed by 158% and Eye care division gained 176% on-year in Q1.
  • Total stores operated climbed to 2,160, including 120 stores that were set up in the April-June period.

Analysts' calls

  • Analysts believe that Titan is the clear winner in this rapidly growing Jewellery industry with strong earnings growth visibility.
  • Eyewear, watch and wearable businesses are gaining scale and growth prospects here are encouraging.
  • Citi, Morgan Stanley and Motilal Oswal, have given a ’BUY’ rating with a target price between Rs 2,600-2,900.
  • Is Titan a good buy?

  • What was Titan share price in 2002?

  • What are Titan stock returns in 1, 3 and 5 years?

Share: