CSuisse upgrades Titan on hopes regulatory overhang would dissipate

Tags: Companies
Titan Company shares gain 1.4 percent after Credit Suisse upgrades the stock to "outperform" from "neutral" and raises target to 310 rupees from 250 rupees on expectations gold regulatory frameworks would be dismantled in 6-12 months.

India had allowed five domestic private sector banks to import gold, in what industry officials say could be a significant step towards easing of tough curbs on the metal imposed last year.

Credit Suisse says the expectations says are based on comfort in India's current account deficit and the rupee, and consensus among political parties for easing restrictions on gold imports.

The investment bank also expects a pick-up in demand for jewellery and a turnaround in the company's watches segment.


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