Rakesh Jhunjhunwala portfolio stock followers were amazed when they come to know that the ‘Warren Buffett of India’ cut down his stake in his favourite Titan Company shares. As per Titan Company shareholding pattern for March 2021, Rakesh Jhunjhunwala and his Wife Rekha Jhunjhunwala together hold 5.06 per cent shares of Titan Company, which was at 5.32 per cent in the December 2020 quarter. However, stock market experts are unmoved by this Rakesh Jhunjhunwala holdings rejig and they have recommended buy in the Titan Company stock for immediate short-term to long-term gains.
Giving details of the of Titan Company fundamentals Ashit Desai, Research Analyst at Emkay Global said, “Titan Company has reported robust sales growth of 61% in Q4FY21 and despite Covid-19 lockdown, company management indicated growth in April 2021 over April 2019. We expect near-term impact due to Covid-19 restrictions, but a strong recovery in H2FY21 indicates pent-up demand and market share gains. Besides, its initiatives to accelerate growth in the wedding segment may offset most of the loss in sales ahead.”
Recommending investors to buy Titan Company shares for immediate short-term time-frame Mudit Goel, Senior Research Analyst at SMC said, “One can buy Titan Company share price at current market price of ₹1481.90 (at 10:31 AM at NSE) for the immediate target of ₹1530 maintaining strict stop loss at ₹1460. Once the target triggers, one can hold the counter for next target of ₹1570.”
On his suggestion to the stock market investors in regard to Titan Company shares Ashit Desai of Emkay Global said, “One can buy Titan Company stocks for the long-term target of ₹1725.”
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