On Tuesday, Titan's market value reached ₹3 lakh crore , a dazzling testament to the local consumer's quick climb up the luxury spectrum.
On Tuesday, Titan shares hit a record high of ₹3,400 before ending the day 1.44% higher at ₹3,394. Imports of gold rose sharply over this period, hitting a record high after thirty-one months.
The stock has increased by 26% over the last half-year, outpacing the Nifty's 9% rise. Given the strong outlook, the stock is expected to continue rising and maintaining its premium values. Slide 4:
The international brokerage CLSA maintained its bullish outlook for the shares on Tuesday, increasing the target price to ₹4,029 from the previous ₹3,948.
Titan will likely always command a premium value, says Richard Liu, an analyst at JM Financial Services. This is especially true given the dearth of "growth businesses" in the market right now.
Titan stands out among other consumer firms for its consistent sales growth, even with its product divisions being discretionary and having a high base. Future improvements in gross margin are anticipated to be supported by the studded ratio's slow recovery.