Titan Company share price can go up to 3883, has reversed from this level 3 times
Titan Company Ltd. is making headlines today with its share price movements. As of September 12, 2024, the share price closed at ₹3,764.25, marking an increase of 1.44% from the previous day’s close of ₹3,711.10. The stock has shown a robust performance recently, with a notable 52-week high of ₹3,886.95 and a low of ₹3,055.65. This fluctuation indicates a dynamic trading environment, prompting many investors to speculate on future price actions.
Main Points
- 1 Titan Company share price Current Market Overview
- 2 Technical Analysis for Titan Company share price
- 3 Titan Company share price Action Expectations
- 4 Titan Company share price Institutional Interest and Shareholding
- 5 Titan Company share price Analyst Recommendations
- 6 Market Sentiment of Titan Company share price
The current market capitalization of Titan Company stands at approximately ₹334,184.85 crores. This positions Titan as one of the leading players in the Indian jewelry and watch industry. The company’s share price has been influenced by various factors, including its strong financial performance and market demand for luxury goods.
Recent reports indicate that Titan’s operating revenue for the trailing twelve months is around ₹52,453 crores, with a pre-tax margin of 9%. The company has also demonstrated impressive annual revenue growth of 26%, showcasing its ability to thrive in a competitive market.
From a technical perspective, Titan Company’s stock is trading near its 200-day moving average (DMA), which is a critical indicator for many traders. Staying above this level is essential for maintaining bullish momentum. Currently, the stock is approximately 7% above its 50-day moving average, indicating a positive short-term trend.
Analysts have noted that the stock is forming a base on its weekly chart, suggesting that it may be preparing for a breakout. However, it is crucial for Titan to maintain its position above the 200 DMA to solidify any further upward movement.
Looking ahead to today, September 13, 2024, the opening price is expected to be around ₹3,704, with a day range forecasted between ₹3,666 and ₹3,750. Investors are keenly watching these levels, as breaking through the upper resistance could lead to further gains.
The stock’s performance over the past month has been encouraging, with a 10.86% increase. Over the last year, Titan’s share price has appreciated by approximately 17.70%. Such consistent growth has attracted both retail and institutional investors, contributing to a healthy trading volume.
The shareholding pattern of Titan Company reveals a stable promoter stake of 52.9%, with significant holdings by domestic and foreign institutional investors. Recently, there has been a slight decline in foreign institutional investor holdings, which could be a point of concern for some analysts. However, the increase in domestic institutional investment is seen as a positive signal.
Analysts generally maintain a “Buy” rating for Titan Company shares, indicating confidence in the company’s long-term prospects. With a price-to-earnings (P/E) ratio of around 95.38, some investors may view the stock as overvalued, while others believe that the company’s growth potential justifies the high valuation.The return on equity (ROE) stands at an impressive 37.21%, outperforming its five-year average of 25.48%. This strong performance metric is often a key consideration for investors looking for quality stocks.
Market sentiment around Titan Company remains optimistic, especially as the festive season approaches. Historically, this period sees increased consumer spending on jewelry and luxury items, which could further boost Titan’s sales and, consequently, its stock price.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
