Titan Company Ltd Share Price Forecast: Will It Break the ₹3,886 Target?
Titan Company Ltd share price has been making headlines lately, with the stock reaching new all-time highs and showing no signs of slowing down. As of August 30, 2024, the company’s shares were trading at ₹3,533.20 on the NSE and ₹3,534.75 on the BSE. The company’s impressive performance can be attributed to a combination of strong fundamentals and positive market sentiment. Titan Company Ltd has consistently delivered good profit growth, with a 5-year CAGR of 20.2%. The company’s return on equity (ROE) has also been impressive, with a 3-year average of 30.3%.
Main Points
According to analysts, Titan Company Ltd share price is expected to continue its upward trend in the coming days. The company’s strong brand presence, diversified product portfolio, and focus on innovation are expected to drive future growth. Technical analysis suggests that the stock has strong support at the ₹3,040.70 level, which is the 52-week low. The stock has also broken out of a key resistance level at ₹3,023.20, which could lead to further gains.
Fundamental Analysis and Target Prediction for Titan Company Ltd
Fundamental analysis also points to a positive outlook for Titan Company Ltd. The company’s strong financial performance, with a healthy dividend payout of 28.7%, is a key factor in its favor. Additionally, the company’s focus on expanding its retail network and introducing new products is expected to drive future growth. Analysts have set a target price of ₹3,886.95 for Titan Company Ltd, which represents a potential upside of over 10% from current levels. This target is based on the company’s strong fundamentals and positive market sentiment.
Titan Company Ltd Buyback News and Important Levels
In a recent development, Titan Company Ltd has announced a buyback of its shares. The buyback is expected to provide support to the stock price and increase shareholder value. Key support and resistance levels for Titan Company Ltd’s share price are as follows:
- Support: ₹3,040.70 (52-week low)
- Resistance: ₹3,886.95 (52-week high)
The movement in Titan Company Ltd share price can be attributed to several factors, including:
- Strong financial performance and growth prospects
- Positive market sentiment and investor confidence
- Expansion of retail network and new product launches
- Buyback announcement and increased shareholder value
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
