1:10 Split, Rs 10/Share Dividend: Tata Stock Down 3.32% From Highs, Buy For TP Rs 4300: Motilal Oswal

Motilal Oswal has issued buy recommendation to Tata Group stock Titan Company Limited with target price of Rs 4300 apiece. Current market price of Titan Company share on BSE is Rs 3756.05 apiece with intraday gain of 0.48%. Currently, Titan Company is trading 3.32% down from 52-week high price of Rs 3885.00 per share on BSE. If you buy Titan Company shares at current market price of Rs 3756.05 apiece, you can fetch potential return of 14.48%. Check more details about Titan below:

Titan Issues Update On Liquidation Of TCL Watches Switzerland AG: According to the March 26, 2024 BSE filing, "This has reference to our earlier communication to the exchanges vide letter dated 23rd February 2023, with regard to liquidation of TCL Watches Switzerland AG, (earlier known as Favre Leuba AG, (FLAG)), a wholly owned subsidiary of the Company."

The Company has received intimation today i.e., on 26th March 2024 that consequent to the completion of liquidation process, TCL Watches Switzerland AG ceased to be a wholly owned subsidiary of the Company effective 21st March 2024, added the exchange filing.

Titan Share Performance & Return: The 52-week high price of Titan Company shares on BSE is Rs 3885.00 per share and 52-week low price is Rs 2513.05 per share, respectively. The company's market capitalisation is Rs 3,33,505.75 crore. Titan Company shares rallied 19% in last 6-months, soared 49% in last 1-year, zoomed 49% in last 2-years, and surged 141% in last 3-years. In last 5-years, Titan Company stock offered return of 237%.

Titan Dividend History: Titan Company announced 23 dividends since July 30, 2001. In last 12 months, Titan Company announced an equity dividend of Rs 10.00 per share. If the current share price of Rs 3756.10 is taken into aspect, Titan Company offers a dividend yield of 0.27%.

Titan Company Stock Split History: Titan Company undertook stock split once since June 23, 2011. Titan Company split the face value of its shares from Rs 10 to Re 1 in 2011. Titan share traded ex-split on June 23, 2011.

Titan Company Bonus Share: Titan offered 1 bonus issue since June 23, 2011. The last bonus issue that leading gems & jewellery company declared was in the ratio 1:1 with ex-bonus date fixed as June 23, 2011.

Rekha Jhunjhunwala Stake In Titan: As of December 31, 2023, Rekha Jhunjhunwala held 47,695,970 equity shares representing 5.4% stake in the large cap company. As of January 20, 2024, Rekha's shareholding in Titan is estimated at more than Rs 18,051 crore.

Titan Company Financials: The company on February 1, 2024 declared its standalone net profit at Rs 1040 for the quarter ended December 31, 2023, up 9.5% as against the corresponding quarter of last fiscal. Its revenue for the December 2023 quarter declared at Rs 13,052 crore, up 20% as against Rs 10,875 crore in the similar quarter of last year, as per the BSE filing. However, the company missed estimates marginally. Meanwhile, its earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter under review declared at Rs 1,457 crore, up 9.5%. EBIDTA margin came at 11.2%, down by 100 basis points YoY.

About: Titan Company Limited ("Titan"), a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery (Tanishq) and subsequently into EyeCare.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.