Titan share price target: Bangladesh JV for Tata company - Time to buy?
titan share price target: bangladesh jv for tata company - time to buy?
Titan announced that it has entered into the Joint Venture Agreement (JVA) with Rhythm for the purpose of establishing a joint venture company in Bangladesh with the objective of manufacturing, marketing and retailing of jewellery products in Bangladesh. Titan will be the major shareholder in the JV with over 76% stake; the remaining 24% stake will be held by Rhythm.
Shares of Titan closed at Rs 3406.10 per share with a gain of 0.76% on BSE, Friday, June 29, against the previous day close at Rs 3380.40 per share. The scrip opened at Rs 3388 per share.
Titan share price target
Kotak Institution Equities in its June 27 report has given 'add' rating to Titan stocks at the CMP of Rs 3,373. It sets the target price of the stocks at Rs 3,600 per share.
Titan share price history
Titan is a component of the S&P BSE Sensex, with a market cap of ₹3,02,388.84 crore based on the current market value. Shares of this Tata Group company have dropped over 0.09% in the past month and 7.32% so far in 2024. Over the past year, two years, and five years, the stock has delivered impressive returns of 12.60%, 73.07%, and 155.17%, respectively. The jewelry maker's shares have provided a remarkable return of 865.45% over the past decade.
Titan FY24 performance
Titan's revenue for Q4 FY24 stood at Rs 11,257 crore, compared to Rs 13,052 crore in Q3 FY24. The net profit of the company remained at Rs 785 crore in Q4 FY24, versus Rs 1,040 crore in Q3 FY24. The consolidated revenue and net profit for FY24 remained at Rs 47,114 crore and Rs 3,543 crore respectively.
About Titan
Titan Company Limited is an Indian company that mainly manufactures fashion accessories such as jewellery, watches and eyewear.