Reuters Market Eye - Goldman Sachs upgrades Titan Industries Ltd to "buy" from "neutral", saying the jewellery retailer is "sufficiently" capitalised to buy gold without too much leverage, while its growth is being supported by additional stores and "resilient" wedding and discretionary demand.
Titan's policy of hedging gold fully protects it from volatile gold prices, while it offers "a strong competitive position" due to its high capital efficiency, adds Goldman.
Titan has fallen 18 percent in 2013 as of Monday's close compared with a 0.5 percent fall in the BSE Sensex in the same period.
Titan's shares are up 1 percent at 10:26 a.m.
(Reporting by Abhishek Vishnoi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app