Titan Company up 2%; HSBC maintains buy, cut target to Rs 1,050

Shares of Titan Company added 2.3 percent intraday Tuesday as foreign brokerage #HSBC maintained buy rating on the stock.

Meanwhile, it has cut the target price to Rs 1,050 from Rs 1,100 per share.

The share has corrected 16 percent from its peak due to wavering revenue growth guidance, while valuation remains appealing post selloff, said research house.

The Q3 has a low base, and Titan’s own scheme can spur growth, it added.

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Posted in: Indian Market Tips