Titan Company Ltd. has been making headlines recently as investors and analysts closely monitor its stock performance. As of October 4, 2024, the share price of Titan Company is ₹3,757.65, reflecting a modest increase of 0.55% from the previous close of ₹3,737.25. This article provides full details on Titan’s current market standing, price performance, and future targets.
Main Points
On October 4, 2024, Titan Company’s stock opened at ₹3,738 and reached a high of ₹3,777 during trading hours. The day’s trading range was between ₹3,701 and ₹3,777, with a total volume of approximately 1.86 million shares traded. The company has shown strong growth over the past year, with an annual revenue growth of 26% and a remarkable return on equity (ROE) of 37%.
Key Metrics
| Metric | Value |
|---|---|
| Current Share Price | ₹3,757.65 |
| Previous Close | ₹3,737.25 |
| Day’s High | ₹3,777 |
| Day’s Low | ₹3,701 |
| Market Capitalization | ₹331,787 Crores |
| P/E Ratio | 96.58 |
| Dividend Yield | 0.29% |
The company has consistently performed well in the stock market over the years. The share price has seen a significant increase of approximately 66% over the last year alone.
From a technical standpoint, Titan’s stock is currently positioned above its key moving averages. It is trading about 7% above its 50-day moving average and 6% above its 200-day moving average. The Relative Strength Index (RSI) stands at 59.16, indicating that the stock is nearing overbought territory but still has room for further gains.
Understanding support and resistance levels can help investors make informed decisions:
| Support Level | Resistance Level |
|---|---|
| First Support: ₹3,713 | First Resistance: ₹3,789 |
| Second Support: ₹3,670 | Second Resistance: ₹3,821 |
| Third Support: ₹3,637 | Third Resistance: ₹3,865 |
These levels indicate where the stock may find buying interest or face selling pressure in the near future.
Analysts remain optimistic about Titan Company’s prospects. Currently, there are 28 analysts covering the stock with recommendations ranging from “Buy” to “Strong Buy.” The consensus target price is set at around ₹4,000, suggesting potential upside from current levels.
Recent Analyst Ratings
- Strong Buy: 7 analysts
- Buy: 8 analysts
- Hold: 9 analysts
- Sell: 4 analysts
This diverse range of ratings reflects varying opinions on Titan’s future performance but generally leans towards bullish sentiment.
Titan Company operates in various segments including watches, jewelry, and eyewear. Its strong brand presence in India positions it well for continued growth. The company’s recent ventures into smartwatches and online jewelry sales further enhance its market reach.
Factors Influencing Price Movements
Several factors could influence Titan’s share price in the upcoming months:
- Market Sentiment: Overall market conditions can significantly impact stock prices.
- Company Performance: Continued revenue growth and profitability will bolster investor confidence.
- Economic Indicators: Changes in economic conditions such as inflation rates or consumer spending can affect demand for luxury goods like those offered by Titan.
