Titan share price target for 2024 reflects bullish trends with a minimum of ₹3807.19 and a maximum of ₹3997.03. Q3 results showcase resilience, impacting brokerages’ recommendations and projections for 2025.
Titan Share Price Target
Investors celebrated as Titan’s share price rose over 2% on Friday, fueled by positive Q3 results. Brokerages hiked their target prices following the company’s impressive financial performance.
Titan Company reported a noteworthy 9.4% YoY increase in net profit, reaching ₹1,040 crore in Q3 of FY24. The company’s revenue soared by 20% to ₹13,052 crore, driven by strong demand across its business segments.
Jefferies Holds Titan Share Price Target
Jefferies maintains a ‘Hold’ stance on Titan, expressing concerns about rich valuations and slightly trimming its target price.
Goldman Sachs, on the other hand, retains a ‘Buy’ rating but reduces its target, highlighting high competition in the jewelry segment.
Both acknowledge Titan’s 20% YoY growth but differ in their recommendations.
Titan Q3 Result 2024
Titan Company Ltd demonstrated robust performance in Q3, with a notable 9.4% rise in standalone net profit, reaching Rs 1,040 crore compared to the previous quarter.
Standalone total income soared impressively by 24.1%, hitting Rs 14,122 crore. Despite these stellar results, Titan’s shares ended 1.93% lower at Rs 3,626 on the BSE, leading to a dip in the market cap to Rs 3.21 lakh crore.
Standalone earnings before interest & tax (EBIT) grew by 11.3% to Rs 1,478 crore, showcasing the company’s operational strength. Profit before tax also saw a commendable 6.2% climb, reaching Rs 1,345 crore in Q3.
On the consolidated front, Titan posted a remarkable 15.45% rise in net profit, amounting to Rs 1,053 crore, with consolidated total income mirroring standalone growth by increasing 24.1%.
Titan Q3 Results Pdf Download
Titan Share Price Analysis 2024
- 1 Week Price Movement: Titan Company’s stock has experienced a decline of 3.73% over the past week.
- 3 Months Price Trend: Looking at the three-month trend, the stock has shown positive growth, gaining 13.30%.
- 6 Months Performance: Over the past six months, Titan’s stock has demonstrated strong performance, increasing by 24.99%.
- Year-to-Date (YTD) Performance: Year-to-date, the stock has faced a slight dip of 1.31%.
- 1-Year Price Change: Titan Company’s stock has witnessed significant growth over the past year, with an impressive increase of 54.63%.
Business Segments in Q3FY24
Jewellery Segment Shines Bright
- Total Income Surge: The jewelry segment witnessed an impressive 23% growth in total income, reaching ₹11,709 crore in Q3FY24 compared to the same quarter in the previous year.
- Domestic Expansion: Tanishq expanded with 18 new stores, while Mia added 16, bringing the total domestic network to 453 Tanishq stores, 161 Mia stores, and 8 Zoya stores.
- Profitability: The EBIT for the quarter stood at ₹1,432 crore, reflecting a robust margin of 12.2%.
Watches & Wearables Clock Success:
- Strong Financials: The Watches & Wearables business achieved a 21% YoY growth in total income, reaching ₹982 crore in Q3FY24.
- Domestic Growth: The domestic business within this segment grew by 23%, contributing to the overall positive performance.
- Product Portfolio Gains: Revenues from analog watches grew by 18%, and the Wearables portfolio saw an impressive 65% growth, with Fastrack growing by 66% and Titan Smart by 57% compared to Q3FY23.
- Premiumization Journey: The premiumization strategy paid off, with both Titan and Helios (International Brands) experiencing growth, driven by an increase in Average Selling Prices (ASP).
EyeCare Faces Challenges
- Revenue Decline: The EyeCare segment experienced a 4% YoY decline in total income, amounting to ₹167 crore in Q3FY24.
- International Expansion: Titan Eye+ expanded its international footprint by opening two new stores in Dubai and Sharjah, bringing the total number of international stores in the GCC region to three.
Emerging Businesses Show Promise:
- Impressive Growth: The Emerging Businesses, including Indian Dress Wear (‘Taneira’) and Fragrances and Fashion Accessories (F&FA), achieved a significant 26% growth in Total Income for Q3FY24.
- Loss Recorded: Despite the growth, the Emerging Businesses collectively recorded a loss of ₹20 crore for the quarter.
READ ALSO: ITC Q3 Result 2024 Performance & Strong Profits.
Titan share Price Target 2024
According to technical data, the projected Titan share price target in 2024 shows promising figures.
- Minimum Target: The minimum expected share price for TITAN in 2024 is estimated at ₹3807.19, reflecting a baseline for potential growth.
- Maximum Target: On the optimistic side, the maximum target for TITAN in 2024 is projected to be ₹3997.03, indicating the upper limit of potential price appreciation.
- Initial Target: Starting the year strong, the initial target set for TITAN in 2024 is ₹3807.19, laying the foundation for positive expectations.
- Mid-Year Projections: With favorable market conditions anticipated, the mid-year target for TITAN could potentially reach ₹3996.81, showcasing sustained positive trends.
- Year-End Goal: Riding the wave of bullish market trends, the year-end target for TITAN in 2024 is expected to potentially hit ₹3997.03, highlighting the company’s strength in the market.
Titan Share Price Target 2025
- January 2025 Target: TITAN’s share price is anticipated to reach Rs. 4234.27, setting a positive tone for the beginning of the year.
- December 2025 Potential Target: Depending on the support from Macro and Micro economic factors and industry trends, the target price for Titan Company Ltd might reach Rs. 4215.32 by December 2025.
- Initial Target (2025): The initial target for TITAN in 2025 is projected at ₹4234.27, indicating an optimistic outlook from the outset.
- Mid-Year Projections: With favorable market conditions, the mid-year target for Titan Company Ltd could potentially touch ₹4215.11, showcasing sustained positive momentum.
- Year-End Goal (2025): Riding the wave of bullish market trends, the year-end target for Titan Company Ltd in 2025 is expected to potentially reach ₹4215.32, signifying the company’s resilience and potential growth.
Investors can monitor these projections as indicators of the company’s performance, recognizing that market dynamics and external factors may influence these targets over time.
ALSO READ: Adani Power Q3 Result 2024 Date, Market Shifts & Status
Conclusion:
Titan’s Q3 results triggered a 2% share price rise, prompting brokerages to raise target prices. While Jefferies holds a ‘Hold’ stance due to rich valuations, Goldman Sachs maintains ‘Buy’ despite lowered targets. Titan’s robust Q3 performance, especially in the jewelry segment, reflects resilience. Projections for 2024 and 2025 showcase optimism, aligning with overall positive market trends.+
