The profit of this company increased by 3800%, the share could go up to Rs 2800

Titan’s profit grew 3825% year-on-year in the June 2022 quarter. Experts say that the shares of Titan can go up to Rs 2800. Titan’s profit stood at Rs 785 crore in the June quarter.

The profit of this company increased by 3800%, the share could go up to Rs 2800

After the April-June 2022 quarterly results, market experts have become bullish about the shares of Titan Company. Titan’s profit grew 3825 per cent year-on-year in the June 2022 quarter. Experts say that the shares of Titan can go up to Rs 2800. Titan’s net profit for the June 2022 quarter jumped 3825 per cent to Rs. 785 crores. In the same period a year ago, Titan had Rs. 20 crore profit. The share price of Titan as on 8 August 2022 on the Bombay Stock Exchange (BSE) stood at Rs. It is trading at 2445.75 level.

Titan shares are priced at Rs. Target price of 2800 was achieved

Domestic brokerage house Prabhudas Lilladher has upgraded the target price of Titan Company. The brokerage house has now priced the shares of the company at Rs. A target price of 2607 has been given. Earlier, the target price of Titan’s stock was Rs 2520. The brokerage house said that we have a positive outlook on Titan shares given the market share, strong balance sheet, franchise-based model and strong brand. ICICI Securities for Titan shares Rs. A target price of 2800 has been given.

That is, the share of Titan can rise by about 14 percent from the current market price. The brokerage house has maintained a buy rating on the shares of Titan. This has been said in a report by Business Today.

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Jhunjhunwala family holds more than 5% stake in the company

Titan’s net profit for the March 2022 quarter jumped nearly 54% to Rs. 510 crores. At the same time, Titan’s profit stood at Rs 785 crore in the June 2022 quarter.

In the June 2022 quarter, Titan’s consolidated total revenue grew nearly 170 per cent to Rs. 9,487 crore, which in the year-ago period stood at Rs. 3519 crores. Veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold over 5% stake in Titan.