The Titan share corrected from a record high of Rs 2,687.25 intraday on Friday to close at Rs 2572.7, down almost a percent, on NSE, a day after the company said its jewellery segment posted robust 37% year on year revenue growth in Q3 of FY22.
Brokerage outlook was mixed with Credit Suisse maintaining a neutral target on the stock but raising its one year price target to Rs 2,700 from Rs 2,500 earlier. CLSA retained its sell call on the stock with a price target of Rs 2,200 per share.
Emkay raised its price target to Rs 3,000 from Rs 2,770 earlier, “factoring in the solid growth momentum”. It raised its FY23/FY24 EPS estimates by 8-9%.