Titan Share Price on 01 April 2024 ๐
2024 isn’t shaping up to be a great year for Titan Company. The stock, which has been a multibagger for investors for a long time, has posted a flat performance this year. The company is a leader in the consumer sector and has good growth prospects. They are set to benefit from the company’s strong business, especially in the jewelry segment. Other business segments of the company are also growing rapidly. Brokerage houses are bullish on the company’s stock and are advising investors to invest in it. The multibagger stock has bounced back almost 15 times in the last 10 years.
Motilal Oswal brokerage house says that Titan’s jewelry business has grown from 3 billion in FY23 to 4.55 billion in FY24. Titan is one of the few consumer companies to achieve this. On Monday (01 April 2024), the share was trading at 3,741 rupees with a 1.60% decline.
The company has long-term growth potential in its jewelry and other businesses. With a significant stake of 8% in the 5 lakh crore jewelry market, there is a good chance of growth in the company’s business.
Considering the strong business growth of the company, brokerage houses have recommended buying the shares. A target price of 4,300 rupees has been set. Choice Broking has set the first target for the share at 3,900 rupees and the second target at 4,035 rupees.
Renowned investor Rakesh Jhunjhunwala’s wife and celebrity investor Rekha Jhunjhunwala have Titan as a major share in their portfolio. The Jhunjhunwala family holds a 5.4% stake in Titan.
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