Titan plunges 7.2% on profitability worries, analysts cut price targets
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Synopsis
"Aggressive store expansion by existing players and entry of new player (e.g., Novel Jewels by Aditya Birla Group will invest ₹5,000 cr) may keep competitive intensity elevated," said Citi's analysts in a client note.
Citi Research said it expects the stock to remain under pressure in the near term amid intensified competition and softer demand.
"Aggressive store expansion by existing players and entry of new player (e.g., Novel Jewels by Aditya Birla Group will invest ₹5,000 cr) may keep competitive intensity elevated," said Citi's analysts in a client note.
JP Morgan said despite the share's outperformance in the past year and gold price-led volatility and margin concerns, which could weigh on the near-term share prices, it expects mid-high teens revenue growth over the medium term.
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