Rekha Jhunjhunwala portfolio: Titan share price has remained sideways to negative for near one year and stock market experts are expecting end of base building phase in this Tata group stock. They believe that there can be some retracement in the stock at current levels and hence on can start accumulating on every dip. As per the JP Morgan report, the stock may go up to ₹3,000 apiece levels by March 2024. Highlighting upon the valuations of this Rekha Jhunjhunwala portfolio stock has fallen on potential demand slowdown worries.
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We expect the margins to stay stable at 12-13 per cent as drag from rising gold price competitiveness and growing share of exchange should be mitigated by better mix and operating leverage benefits. Wearables, Caratlane, Eyewear, Taneira and international business are other significant LT growth pillars. Titan valuations are comparable to other large discretionary names (non-auto), and we view current levels as a good entry point as it has better earnings growth prospects with relatively less downside risk.”
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However, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi said, “On chart pattern, Titan share price is in ₹2,300 to ₹2,600 per share range and the stock may become highly bullish on breakage of ₹2600 hurdle. Those who have this stock can hold the stock with stop loss at ₹2,300 per share levels. Considering current weakness in Indian stock market, in case the stock retraces below ₹2,300 apiece levels then ₹2,000 will be next strong support and one can buy this Tata group stock around ₹2,100 apiece levels and hold long.
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Out March 2024 target price of ₹3,000 apiece is based on a 58x one year forward P/E multiple for the standalone business (15% premium to pre-Covid average) and ₹160 per share for Caratlane (based on 6x EV/share),” JP Morgan said.
Unveiling investment strategy in this Rekha Jhunjhunwala portfolio stock, Ganesh Dongre of Anand Rathi said that one can keep on accumulating on every dip as the stock is range-bound these days. He advised high risk investors to wait for big correction to enter and hold the stock with stop loss at ₹2,300 apiece levels whereas safe investors can take position around ₹2,100 levels as weakness in stock market, which is still persisting, may drag the quality stock towards is next support zone of ₹2,000 apiece.
Rekha Jhunjhunwala holding in Titan Company
According to shareholding pattern of Titan Company for Q3FY23, Rekha Jhunjhunwala holds 4,58,95,970 Titan shares, which is 5.17 per cent of total paid up capital of the company.
