Buy Titan Company, target price Rs 3240 : ICICI Direct
Titan’s jewellery division is expected to register early double digit revenue growth to the tune of 11% YoY in Q3FY23 (12% including CaratLane). Prima facie, the growth trajectory appears to have moderated but we believe the growth rate should be viewed in the context of a very strong base of Q3FY22 (the division had recorded 37% YoY growth).
