By Malvika Gurung
investing.com — The top-performing stock on benchmark indices and , Titan Company (NS:), jumped 5.44% to Rs 2,733.8/share at the time of writing, outperforming the stocks listed under the two indices as well as completely bucking the market’s weak trend on Friday.
The luxury products company’s stock surged as investors reacted to its strong sales growth reported for the Sept quarter late on Thursday.
The Tata Group heavyweight’s overall sales rose 18% YoY and reported healthy double-digit growth across most businesses, adding 105 stores (net) to its network in the quarter.
Brokerage firms Morgan Stanley (NYSE:) and Motilal Oswal (NS:) are bullish on the mega-cap stock with the earnings growth visibility remaining strong.
Global brokerage major Morgan Stanley has held its ‘overweight’ rating on the stock, setting a target price of Rs 2,902/share, seeing strong initial Q2 trends amid improving studded mix, positive sentiments and a good festive season outlook, it stated.
The domestic brokerage Motilal Oswal maintained its Buy call on Titan with a target of Rs 2,970, an upside of almost 10% from today’s price.
Read Also: Best Performer on Nifty, Sensex: Tata Group Heavyweight Outshines, Nears All-Time High
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