December quarter stand alone net profit of Titan Co. Ltd’s fell short of some analysts’ estimates
December quarter stand alone net profit of Titan Co. Ltd’s fell short of some analysts’ estimates. Net profit came in at Rs470 crore which paved way for investor’s excitement taking stock up to 7.5 per cent on National Stock Exchange on February 4.
According to analysts, the market is appreciating companies that can deliver stable performance in these tough times. Stocks like Titan are catching up post few commercial stocks already run up during the start of February.
Although muted consumer sentiment is making the road challenging, Titan’s valuation is hardly cheap. The stock currently trades at 55 times estimated earnings of FY21 based on Bloomberg data. Titan remains the key beneficiary of the shift.
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