The shares of Tata Group’s company Titan have a declining trend on Wednesday. Titan Company’s profit declined 7 per cent in the March 2022 quarter and perhaps this is the reason why Titan’s shares are falling. Despite the fall in profits, brokerage houses are bullish on the shares of Titan Company. A target price of up to Rs 2900 has been given for the shares of Titan. Veteran investor Rakesh Jhunjhunwala has a major stake in Titan Company. The Jhunjhunwala family owns shares of Titan Company worth more than Rs 10,000 crore.
Titan shares target price up to Rs 2900
Domestic brokerage house Motilal Oswal has maintained a buy rating on the shares of Titan Company. The brokerage house has given a target price of Rs 2900 for the shares of the company. The brokerage house says that the company’s earnings CAGR has been 24% in the last 5 years ending FY22, despite the volatility in gold prices and the difficulties related to COVID-19. The brokerage house believes that this trend will continue and the earnings CAGR of more than 20 per cent may be there in the next few years. Brokerage house ICICI Securities has given Add rating to Titan shares with a target price of Rs 2,550.
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Jhunjhunwala family’s stake valued at Rs 10,703.90 crore
According to the latest shareholding pattern of Titan Company on the Bombay Stock Exchange (BSE), veteran investor Rakesh Jhunjhunwala holds 3.98 per cent stake in the company. At the same time, his wife Rekha Jhunjhunwala holds 1.07 percent stake in Titan Company. This figure related to stake in the company is as of March 31, 2022. According to a report in Economic Times, the value of the stake of Rakesh Jhunjhunwala and Rekha Jhunjhunwala in Tata Group company Titan is close to Rs 10,703.90 crore as of Monday’s share price.
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