Buy Titan Company Ltd., target price Rs 4300.0 : Motilal Oswal Financial Services
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6 months ago
Titan has reduced the gold premium compared to peers in a calibrated manner, which has been compensated with other initiatives to protect operating margin. The management believes that jewelry EBIT margin of 12-13% is sustainable despite rising competition. LGDs have seen success in many developed countries, yet TTAN is not sure it would participate in LGDs.
Economic Times