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Buy Titan Industries, target of 
1610: IndiaInfoline
By siliconindia
|
Tuesday, 26 January 2010, 18:07 IST |
1 Comments
Bangalore: IndiaInfoline is bullish on Titan Industries and has recommended buy rating on the stock with target price of 
1610. According to the brokerage, Titan Industries continues to be in an uptrend after breaking out from consolidation between the range of 1,277 and 1,485 from last week of December 2009.
Titan Industries is an India-based company engaged in the business of manufacturing of watches. The company's primary segments consist of watch, jewellery and others. Others include eye wear, precision engineering, machine building and clocks. The company has its manufacturing facilities at Hosur, Dehradun, Baddi and Roorkee. The company manufactures watches under the brand names Titan, Sonata, Fastrack and Xylys. The company's watches are sold in India and 26 countries around the world.
IndiaInfoline says the momentum indicator RSI is exhibiting positive movement suggesting further upside in the near term. Moreover, volumes have also picked up substantially as the stock breached the upper end of the consolidation range mentioned above. With the recommended target price of 1610, if the stock is bought at Monday's closing price of 1,504.75, the percentage of gain would be 6.99 percent.
1610. According to the brokerage, Titan Industries continues to be in an uptrend after breaking out from consolidation between the range of 1,277 and 1,485 from last week of December 2009.
Titan Industries is an India-based company engaged in the business of manufacturing of watches. The company's primary segments consist of watch, jewellery and others. Others include eye wear, precision engineering, machine building and clocks. The company has its manufacturing facilities at Hosur, Dehradun, Baddi and Roorkee. The company manufactures watches under the brand names Titan, Sonata, Fastrack and Xylys. The company's watches are sold in India and 26 countries around the world.
IndiaInfoline says the momentum indicator RSI is exhibiting positive movement suggesting further upside in the near term. Moreover, volumes have also picked up substantially as the stock breached the upper end of the consolidation range mentioned above. With the recommended target price of 1610, if the stock is bought at Monday's closing price of 1,504.75, the percentage of gain would be 6.99 percent.