Overweight rating to Titan Industries shares: HSBC

Sep 30 2013, 10:41 IST
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Titan has started to explore ways to export on its own either directly, selling to an exporter or through wholesale route. Titan has started to explore ways to export on its own either directly, selling to an exporter or through wholesale route.
SummaryResumption of gold imports, new diamond and fragrance brands raise market clout.

half that of typical luxury perfumes and plans to position it as mass luxury fragrance product. Launch will be accompanied by a strong campaign.

It aims to spend R500m in brand building initiatives and revenue of R2.5 bn in the next 3-5 year window.

Other businesses: Eyewear is growing quite well and is on track to become profitable in the next couple of years. Fastrack is progressing well, while urban demand is weak but rural and semi-urban demand remain quite robust. Other than Tanishq, Titan is not looking to add any substantial retail area in any of the formats this year.

—HSBC

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