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Prabhudas Lilladher Report
Titan Company Ltd. remains positive on recovery given rising vaccination, although a couple of large south Indian states remain a drag.
We believe that with-
rise in wedding jewellery sales and ticket size in H2 FY22,
Improvement in studded ratio,
healthy recovery in watches and eyewear and
implementation of mandatory hallmarking will be major growth drivers for Titan going forward.
We remain positive on the long term structural story on account of market share gains, strong balance sheet, franchisee based model, strong brand, and strong head start in executing strategies like customer safety and omni channel across product segments.
Foray into the U.S. will provide long term growth potential.
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