On Friday, Titan Company’s shares rallied 6 per cent to Rs 2,744.30 on BSE after the Tata Group firm reported its double-digit growth in overall sales, growing 18 per cent year-on-year (YoY) in Q2FY23. The stock was trading at its record high level of Rs 2,767.65, which was touched in March last year. 

• Techno Electric Shares Hit 52-Week High on Securing Orders Worth Rs 4,000 Crore
• IREDA Shares Skyrocketed 11% on Receiving Navratna Status 
• Glenmark Pharma Shares Gain 1% on Receiving USFDA Approval 
• Stocks Under F&O Ban: Vodafone Idea
• Stocks in Focus: Vodafone Idea, Maruti Suzuki, ICICI Bank, and Others

As ICICI Securities estimates, the brokerage firm expects more than 30 per cent YoY revenue growth in FY23. Oveimpliedr the long term, the company aspires to grow jewellery revenues by 2.5x by FY27 ( CAGR: 20 per cent from FY22 base).

According to Motilal Oswal Financial Services, “the earnings growth visibility for Titan remains strong. It has compounded earnings by around 20 per cent for an elongated period. The Jewelry industry, which is organised at a rapid pace, is clearly at the vanguard regarding growth among organized players. Its runway for growth is long, with a market share of around 6 per cent. Unlike other high-growth categories, the competitive intensity from organized and unorganized peers in Jewelry is considerably weaker. The structural investment case for Titan is intact,” the brokerage firm said.