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Titan Industries Stock News, Analyst Calls And Reviews
Titan Industries announced that it will lift up the number of its eye-wear outlets to 250 by September this year.
On the sidelines of CSR initiative by Titan Industries, Titan Managing Director Bhaskar Bhat stated, “For Titan Eye+ (its eye-wear brand), we will add 70- 75 stores this year so by March-end we have 220 stores and by September we should be having 250 stores.”
During the current financial year, the Tata Group company is eyeing proceeds of Rs 120 crore from the eye-wear brand.
On the demand front, Mr. Bhaskar stated that the consumer reaction is slowly bettering.
"Gold prices have steadied during last few weeks. It is not volatile so it should help consumer sentiment," said the head of Titan, which functions the chief branded gold jewelry brand (Tanishq) in India.
When questioned on growth seen thus far, Mr. Bhaskar answered, "volume growth in watches is 12-14 per cent and value is 15-16 per cent. Growth in gold in value terms is 35 per cent."
Mr. Bhat added that the company has planned to launch around 200-250 stores by the coming year.
"We haven't frozen the plans yet. But it will be similar," Mr. Bhat also said.
For 2011-12, Mr. Bhat witnesses top-line growth of about 30%.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
Buy Titan Industries
it could head towards 280 and above levels
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