Titan share price: Sharekhan maintains Buy recommendation with price target of Rs 1710
Sharekhan says for Q4FY2021, Titan Company posted a mixed performance. Performance was strong on the revenue front but disappointing on the margins front. As stated in the pre-quarterly update, the company delivered robust sales growth of 60% with strong growth of 70% in the jewellery business. Consolidated OPM declined by 210 bps y-o-y to 10.9% mainly on account of lower gross margins in both jewellery and watches business
Titan’s jewellery business retained its strong growth momentum because of market share gains and a sharp decline in gold prices, boosting high gold demand during the quarter: Reuters