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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • State-owned banks can ride technology surge to penetrate retail segment

    For the first time in recent history, two large private sectors banks, ICICI and Axis have reduced their headcounts.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

The rabbit hole of outcome budgets

Would you tell me, please, which way I ought to ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture