April 9, 2018 / 4:02 AM / 7 months ago

BUZZ-India's Titan rises on strong Q4 jewellery sales growth

** Shares of jewellery and accessories retailer Titan Co Ltd rise as much as 2.6 pct to 961.90 rupees, highest since March 28

** Q4 jewellery retail sales growth in mid-teens, company said on Friday

** Titan said regulatory actions, drive against unaccounted wealth and developments on credit situation of jewellers could pose challenges for jewellery industry

** Recent regulations have “tilted trade decisively in favour of organised players, among which Titan is a dominant player in terms of scale and trust,” Motilal Oswal analysts said in a note, raising PT to 1,090 rupees with rating “buy”

** Of 31 brokerages that cover the stock, 23 rate it “buy” or higher, six “hold” and two “sell” or lower; their median PT is 909.50 rupees

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