Update on the Indian Equity Market:
\nOn Wednesday Nifty closed 1% higher at 13,601. Among the sectoral indices, Realty (+3.9%), Media (+3.3%), and IT (+2.4%) closed higher. None of the sectors closed lower. Wipro (+5.7%), Cipla (+3.7%), and Tata Steel (+3.40%) closed on a positive note. Hero Motors (-1.0%), Divis labs(-0.7%), and Titan (-0.5%) were among the top losers.<\/p>\n
Excerpts from an interview of Mr. S Subramanian, CFO, Titan with CNBC-TV18 dated 22nd December 2020:<\/p>\n
\u25cf\tMr S. Subramanian said there is a strong space for growth in jewellery sector over the next 5-10 years.
\n\u25cf\tThe company has established itself as the market leader and the balance sheet is stronger.
\n\u25cf\tOn other businesses, he said wearables are now a very exciting opportunity. With focus of people on wellness the company is looking for substantial growth in that segment.
\n\u25cf\tOn eyewear, he said the market is significantly underpenetrated and there is a lot of opportunity to grow.
\n\u25cf\tHe expects the company to come out stronger post covid crisis and the focus will be on people.
\n\u25cf\tOn guidance, he said the 4QFY21E is expected to be normal and the good news is vaccine coming.
\n\u25cf\tThe footfalls are improving even in malls and he expects that the worst to be over.
\n\u25cf\tOn weddings, he said that the spends on weddings are lower, it provides an opportunity for people to spend more on jewellery. The company is also witnessing an increase in ticket size spends.
\n\u25cf\tHe said the devices which will track people\u2019s well-being would become important and so (Digital fitness watches) in Watches is a very exciting area.<\/p>\n
Consensus Estimate: (Source: market screener and Investing.com websites)
\n\u25cf\tThe closing price of Titan was \u20b9 1491 as of 23-December-2020. It traded at 149x\/ 69x\/ 56x the consensus Earnings per share estimate of \u20b9 10\/22\/27 for FY21E\/ FY22E\/ FY23E respectively.
\n\u25cf\tThe consensus average target price for Titan is \u20b9 1068\/- which implies a PE multiple of 40x on FY23E EPS of 27\/-.<\/p>\n
Disclaimer: \u201cThe views expressed are for information purposes only. The information provided herein should not be considered as investment advice or research recommendation. The users should rely on their own research and analysis and should consult their own investment advisors to determine the merit, risks, and suitability of the information provided.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Update on the Indian Equity Market: On Wednesday Nifty closed 1% higher at 13,601. Among the sectoral indices, Realty (+3.9%), Media (+3.3%), and IT (+2.4%) closed higher. None of the sectors closed lower. Wipro (+5.7%), Cipla (+3.7%), and Tata Steel (+3.40%) closed on a positive note. Hero Motors (-1.0%), Divis labs(-0.7%), and Titan (-0.5%) were […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,148],"tags":[330,638,637],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1585"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1585"}],"version-history":[{"count":1,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1585\/revisions"}],"predecessor-version":[{"id":1586,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1585\/revisions\/1586"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}