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Sunday, May 6, 2012

Buy Stocks of Titan Industries

Prabhudas Lilladher, an equity stock broker, has come up with a stock report on Titan Industries with 'Buy Stocks' recommendation. Checkout the target stock price.

Titan Industries posted PAT (Profit after tax) of Rs.144 crores in Q4FY12 which is 72% growth over PAT in same quarter last year. Watch sales was up 14% for Q4 and 15% for FY12. Jewellery volumes declined 7% for Q4 but it was up 5% for full year. Titan industries added 41 retail stores during Q4FY12. Now the total number of stores is 827 stores across India. Growth in Eyewear business was 17% in sales. Strong volume growth in Watches division is a key highlight of the quarter.

Titan Industries is following strategy of expanding its presence in Lifestyle segments and categories where demographic dividend can be most leveraged. Titan Industries is one of the top stock pick by Prabhudas Lilladher stock reseach team in the Retail space with ‘Buy Stocks’ rating. Target stock price for next one year is Rs.290 (28x FY14 expected). Price volatility in Gold may act as a deterrent for volume growth for company.



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