Karvy Stock Broking Limited has maintained ‘Buy’ rating on Titan stock with an intraday target of Rs 1345.
According to Karvy, day traders can purchase the stock above Rs 1310 with a stop loss of Rs 1290. If the stock market remains on positive track, the next target for the day will be above Rs 1390.
Shares of the company, on Tuesday (April 29), closed at Rs 1302.90 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 84696. The share price has seen a 52-week high of Rs 1795 and a low of Rs 858 on BSE.
The outlook for the stock is really very strong, and it is expected to rise on the back of huge volumes.
In a bid to aggressively amplify presence in Pakistan over the next six months, Titan Industries, on April 28, has opened two outlets in Karachi and Lahore over the last week.
Titan Industries has established a World of Titan showroom in Lahore and a Titan exclusive store in Karachi. The company has decided to extend its stocks to at least 50 dealers in Pakistan.
Titan Industries has entered into a distributor agreement with Clover Pakistan, a business which has various agreements with Colgate-Palmolive and McDonald`s. Titan for this foray into Pakistan sourced various components from a few overseas locations and is routing its entry through Titan Dubai.
Other stocks from the same sector that looks good for short-term trading includes Guj NRE Coke, CRISIL and Jain Irrigation.