INSUBCONTINENT EXCLUSIVE:
Edelweiss Financial Services has a buy call on Titan Company with a target price of Rs 1,036.
The current market price of Titan Company is
Rs 915.
Time period given by the brokerage is one year when Titan Company price can reach the defined target.
View of Edelweiss on the
growth over balance 9 months.
The Skinn (perfumes) business is doing well and Titan is targeting doubling of sales led by the entry in new
categories (body mist) and expansion of distribution reach
Focus on the eyewear division will be on adding new customers and the company is on target to achieve 25 per cent growth in FY19.
We believe
Titan has the ability to create significant value with its large distribution presence, strong brand, designing skills and proven execution
Witha robust balance sheet, strong brand equity and professional management team in place we remain bullish on Titan.
Risks: Gold price
volatility, regulatory hurdles and seasonality in business.
