Titan Up 9% On CLSA Upgrade, Q3 Nos Good Despite Demonetisation

Share of Titan Company increased 9.5 percent intraday Wednesday on the back of sound development in second from last quarter in spite of demonetisation. The watch and adornments producer said benefit in October-December quarter developed by 13 percent to Rs 255.7 crore contrasted and Rs 226.2 crore in year-back quarter, driven by topline and also operational execution.
Income expanded 14.4 percent year-on-year to Rs 3,926 crore in the quarter finished December 2016, supported by adornments and additionally watch organizations.

CLSA has redesigned the stock to purchase from fail to meet expectations and furthermore expanded target cost to Rs 500 from Rs 372 in the wake of raising EPS conjectures by 9-24 percent.

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