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The GeForce RTX 3070 offers as much power as previous-gen flagships and could help popularise ray tracing, though it's s...
29/10/2020

The GeForce RTX 3070 offers as much power as previous-gen flagships and could help popularise ray tracing, though it's still relatively expensive.

The most affordable RTX 30-series GPU so far

Tyre maker Ceat is looking at export opportunities for its speciality tyres in Europe and North America, and is also exp...
29/10/2020

Tyre maker Ceat is looking at export opportunities for its speciality tyres in Europe and North America, and is also exploring new markets for radial tyres for buses and trucks, a senior company executive said. The RPG Group company, which produce tyres for segments such as two- and three-wheelers, cars, buses, light commercial vehicles (LCVs), trucks and tractors, currently exports its range of products to over 100 countries. The company has six manufacturing plants at Ambernath (for off-highway tyres), Bhandup, Nashik and Nagpur in Maharshtra, Halol in Gujarat and in Chennai. "We are trying to make more inroads in the Europe and North American market for speciality sectors. We are also looking at new market for our bus and truck radial tyres," Ceat Tyres Ltd Chief Financial Officer Kumar Subbiah told . He said the commissioning of Chennai plant in February this year will boost the company's export business, which generally accounts for 12-13 per cent of the overall revenue. Ceat has a specialised subsidiary, Ceat Speciality, for off-highway tyres in domestic and international markets. Stating that exports are picking up gradually, he said the recovery from the COVID-19 impact started happening in the later part of September quarter. Earlier this week, the tyre maker reported over four-fold increase in consolidated net profit at Rs 182.18 crore for the second quarter ended September 30. The company had posted a net profit of Rs 43.64 crore in the July-September period of previous fiscal. The company's revenue from operations during the second quarter stood at Rs 1,978.47 crore as compared to Rs 1,691.55 crore in the year-ago period. During the quarter, it also commissioned the second phase of its Nagpur-based manufacturing facility with effect from August 24. Subbiah attributed a rebound in replacement market demand, improvement in other two verticals -- exports and original equipment manufacturers (OEMs) -- and better cost management to the good financial performance in the September quarter. "We managed our supply situation better both from the manufacturing as well as servicing point of view. These are broad reasons why we have been able to give growth in the topline," he said. He said the demand has returned in the aftermarket segment, while for OEMs and exports, the demand is very close to where it was before the COVID-19 pandemic. However, he said, only time will tell if the demand is sustainable or not. Subbah said the company has added capacity at its three plants in Halol, Chennai and Nagpur (two-wheelers) in anticipation of higher demand and to corner additional market share going forward.

Tyre maker Ceat is looking at export opportunities for its speciality tyres in Europe and North America, and is also exploring new markets for radial tyres for buses and trucks, a senior company executive said.

Mumbai: The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Supreme Court to end its seven decades-...
29/10/2020

Mumbai: The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Supreme Court to end its seven decades-old association with the Tata Group. The Mistrys have valued their holding in the Tatas at Rs 1.75 lakh crore, it informed the apex court, which is hearing the long-drawn legal battle between the two groups that began after the Tatas in a boardroom coup on October 28, 2016 sacked Cyrus Mistry as the Chairman. "Tata Sons is effectively a two-group company, with the Tata Group comprising Tata Trusts, Tata family members and Tata companies holding 81.6 per cent of the equity share capital, and the Mistry family owning the balance 18.37 per cent," the Shapoorji Pallonji Group said in a statement quoting from its submission to the apex court. The group has submitted a plan for separation from Tatas to the Supreme Court. Tata Sons is the core investment company and is the holding company for the Tata Group and its value arises from its stake in listed equities, non-listed equities, the brand, cash balances and immovable assets. The value of 18.37 per cent stake of the SP Group in Tata Sons is over Rs 1,75,000 crore, it said. In their scheme of separation, the SP Group said disputes over valuation can be eliminated by doing a pro-rata split of listed assets (share price value is known) and pro-rata share of the brand (brand valuation already done by Tata and published). A neutral third-party valuation can be done for the unlisted assets adjusted for net debt. As a non-cash settlement, the SP Group sought pro-rata shares in listed Tata entities where Tata Sons currently owns stake. For example, while Tatas own 72 per cent of TCS, the SP Group's ownership of 18.37 per cent in Tata Sons translates to 13.22 per cent shareholding of TCS, which is worth Rs 1,35,000 crore at present market capitalisation, as per the statement. Pro-rata share of brand value adjusted for net debt can be settled in cash and/ or in listed securities, the statement said. For the unlisted companies, an expedited valuation can be done with a valuer selected by both sides. This can be settled in cash and/or in listed securities, it added.

In their scheme of separation, the SP Group said disputes over valuation can be eliminated by doing a pro-rata split of listed assets (share price value is known) and pro-rata share of the brand (brand valuation already done by Tata and published). A neutral third-party valuation can be done for the...

Kolkata: The demand for a uniform gold rate across the country is gathering pace. Jewellery chain Malabar Gold & Diamond...
29/10/2020

Kolkata: The demand for a uniform gold rate across the country is gathering pace. Jewellery chain Malabar Gold & Diamonds has introduced uniform pricing of gold across all its stores in the country, and some other jewellers plan to follow suit.Gold is an imported commodity and, therefore, the import price is the same across the country. But jewellery associations in different parts of the country fix different board rates, leading to multiple prices. For instance, on Thursday, 10 grams of 22-carat gold used in jewellery was commanding a price of Rs 49,100 in Delhi, Rs 46,850 in Kerala, Rs 49,680 in Mumbai, and Rs 47, 380 in Chennai.Many jewellers also undercut the market by selling at lower rates by evading taxes, industry insiders said.“The government should take concrete steps to ensure ‘one India, one gold rate,” said Ahammed MP, chairman of Malabar Gold & Diamonds, adding that a uniform rate would benefit customers.“Post-GST there is only one uniform tax rate on all jewelleries across the country and we have only one legal tender that is Indian rupee unlike some foreign countries. At the international level, there is only one rate for gold. All these make a compelling case for a uniform gold rate across the nation,” he told ET. Ahammed said there is a wide price differential for gold in the South Indian and North Indian markets. “In South India gold prices are relatively fair for years and there is a clear buyback system. Jewellers here do not charge high margins,” he said.He alleged that jewellers in North India charge hefty margins, pushing up prices artificially and distorting the market.“Jewellers should display the buyback rates because recycling gold does not make any difference in its purity,” Ahammed said. “You may charge a certain percentage of margin, say 2% or so, while buying back gold. Jewellers should come forward to share this information among them. This will lure more customers to invest in gold.” The government should ensure compulsory BIS hallmarking of gold and put in place a tracking mechanism to follow movement from the source of origin to the end customer, the Malabar Gold chief said. Saurabh Gadgil, chairman of Pune-based PNG Jewellers said Malabar’s initiative is a step in the right direction. “However, we feel that it should be taken up by the industry together instead of individual jewellers as it would create confusion in the minds of the customers,” Gadgil said. “We see this phenomenon in the UAE as well where the rates for gold across the board are standardised, while making charges are decided by individual jewellers.”Ahammed is hopeful that uniform gold pricing will make a huge difference in Malabar’s sales and new customer acquisition.

Gold is an imported commodity and, therefore, the import price is the same across the country. But jewellery associations in different parts of the country fix different board rates, leading to multiple prices.

Mumbai: The retail segment, which has been badly hit due to the lockdown restrictions, is bouncing back gradually with a...
29/10/2020

Mumbai: The retail segment, which has been badly hit due to the lockdown restrictions, is bouncing back gradually with an uptick in hiring of 15 per cent in September when compared with the previous month, according to a report. However, the hiring activities are still down by 50 per cent compared to the corresponding month a year ago, according to a report by Naukri.com. The sector is showing a slow but steady sequential recovery but the sector is likely to bounce back further during the festive season in the country, it added. "As more public spaces have opened up keeping social distancing in mind, we see movement pick up in retail spaces. Hiring is also picking up accordingly," the report added. The Naukri retail hiring report is based on hiring activities in the sector on the job site's platform. Top roles that recruiters are hiring for include retail store manager, sales or business development manager, merchandiser, software developer, tech architect, designer and accountant. Roles such as logistic manager, interior designer, warehouse assistant and tech lead have seen 100 per cent, 66 per cent, 44 per cent and 42 per cent growth in demand year-on-year. Keywords like logistics and retail sales executive are up by 247 per cent and 500 per cent in recruiter searches for the sector, it added. Meanwhile, the report further stated that there has been an upward trend in hiring activities in the Internet sector with a sequential recovery since July onwards. This is backed by various phases of unlocking along with the huge demand from consumers for daily essentials through online channels. Major hiring to prepare for the festive season is indicative in August but has become flat through September, it added. Even though the internet or e-commerce industry started seeing a decline in hiring since the start of the year, when compared with the pre-COVID-19 period, we see a high recovery; the sector is down by only 7 per cent in September compared to February. Even digital marketing and pay per click specialist roles have seen an annual growth of over 40 per cent, it added.

However, the hiring activities are still down by 50 per cent compared to the corresponding month a year ago, according to a report by Naukri.com.

Mumbai: Carlsberg's global chief executive Cees't Hart said India's environment is highly uncertain and volatile after p...
29/10/2020

Mumbai: Carlsberg's global chief executive Cees't Hart said India's environment is highly uncertain and volatile after posting a 30% volume decline in the country which it blamed on the market struggling socially and economically."In India, the infections are very high. 95% of the off trade outlets are open but the numbers of customers remain subdued as they fear contracting the virus as crowds are gathering," Hart told investors in a post earnings call. The world's third biggest brewer said its Indian business at off-trade or retail channel fell 40% in the quarter ended September. Also, many restaurants, bars and pubs that account for nearly a third of beer sales, have either shut or opened last month.With a market share of about 20%, the maker of Tuborg is India's third largest brewer after United Breweries and ABInBev and was also one of the fastest growing beer companies in the segment since its entry about 12 years ago. The latest performance, however, is better compared to the sequential quarter ended June when the brewer saw sales declining 75% after beer manufacturing, distribution and retailing came to a complete standstill during the nationwide lockdown for nearly 40 days."While recovery from COVID-19 is high due to a large young population, life and businesses are only very slowly, trying to return to normal, and the impact on the Indian economy is severe," Heine Dalsgaard, chief financial officer at Carlsberg told investors adding that the company's growth numbers were higher than the overall market expansion.Several state governments hiked tax as covid cee on alcohol by up to 75% of maximum retail price since the Centre allowed reopening of liquor shops in the first week of May. However, markets such as Delhi, Odisha, West Bengal and Andhra Pradesh reversed the tax significantly after witnessing fall in demand due to high prices."In 3Q20, our business continued to be significantly impacted by the COVID-19 pandemic. Consumer demand was also impacted by the temporary COVID-19 cess imposed by some states, which further exacerbated the price differential between beer, an alcoholic beverage of moderation, and hard liquor," said Budweiser Brewing Company APAC in its earnings performance statement on Thursday. "This change, though temporary, may lead to unintended consequences such as increased consumption of low-quality or even illicit liquor that has lasting impact on public health adversely."India is one of the largest beer markets, consuming about 334 million cases per year (at 7.8 litres per case), according to International Wine and Spirits Research (IWSR). The April-June quarter typically accounts for nearly 45% of annual beer sales in the warm, tropical country.

The world's third-biggest brewer said its Indian business at off-trade or retail channel fell 40% in the quarter ended September. Also, many restaurants, bars and pubs that account for nearly a third of beer sales, have either shut or opened last month.

New Delhi: The government is likely to extend the deadline to bid for Air India till December 14 and also give flexibili...
29/10/2020

New Delhi: The government is likely to extend the deadline to bid for Air India till December 14 and also give flexibility to a potential investor to decide on the humongous debt with the national carrier, a source said. The deadline to bid for buying out Air India ends on October 30. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle. The source said the Air India Specific Alternative Mechanism (AISAM) has cleared the extension of deadline to December 14 to give time to potential investors to raise queries on the changes being made in the Preliminary Information Memorandum (PIM). As per the Air India EoI floated by DIPAM in January, of the airline's total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286.5 crore, while the rest would be transferred to Air India Assets Holding Ltd (AIAHL), a special purpose vehicle. The government is seeking to sell 100 per cent of its stake in the state-owned national airline, including Air India's 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Pvt Ltd. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had said that potential investors in Air India have given feedback that due to the uncertainty created by COVID-19 in the aviation sector, the debt should not be fixed at the Expression of Interest (EoI) stage. "The point is what debt is sustainable. There is a point of view that it can be decided by the market rather than we upfront deciding," he said, adding AISAM would take a final call on whether bidding for Air India will take place based on equity value or enterprise value. A popular valuation methodology for takeover deals- Enterprise value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalisation. EV includes in its calculation not only the market capitalisation of a company but also short-term and long-term debt as well as any cash on the company's balance sheet. For the current fiscal year, the budget has pegged disinvestment proceeds at Rs 2.10 lakh crore. This includes Rs 1.20 lakh crore from CPSE share sale and Rs 90,000 crore from a share sale in public sector banks and financial institutions, including the listing of insurance behemoth LIC. So far this fiscal, Rs 6,138 crore has been mopped up through CPSE stake sale.

The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle.

Microsoft is looking to bring a complete UI overhaul with a Windows 10 update in 2021. This significant design upgrade w...
29/10/2020

Microsoft is looking to bring a complete UI overhaul with a Windows 10 update in 2021. This significant design upgrade will see changes in surface-level elements like Start Menu, Action Center, and File Explorer. These elements will be transformed to feature better animation, modern designs, and even have new features as well.

This major Winodws 10 UI overhaul project is reportedly codenamed ‘Sun Valley’.

Mi Notebook 14 with 10th Gen Intel Core i3 processor will be launched in India soon, Xiaomi Global Vice President Manu K...
29/10/2020

Mi Notebook 14 with 10th Gen Intel Core i3 processor will be launched in India soon, Xiaomi Global Vice President Manu Kumar Jain has tweeted. The company had launched the Mi Notebook 14 and the Mi Notebook 14 Horizon Edition in India powered by 10th Gen Intel Core i5 or Core i7 processors back in June.

The new Mi Notebook 14 with an Intel Core i3 processor will join the already available Mi Notebook 14 and Mi Notebook 14 Horizon Edition models.

By Keith BradsherYIWU, China — Deep inside a 10-block-long factory outlet mall in China, the people who supply Americans...
29/10/2020

By Keith BradsherYIWU, China — Deep inside a 10-block-long factory outlet mall in China, the people who supply Americans with their plastic dinosaurs and “Kiss My Bass” baseball caps are confident about an election victory for President Donald Trump.Trump’s campaign paraphernalia — hats, banners, mugs and practically anything else that can carry a logo — has been selling briskly at shops in the vast wholesale market in the Chinese city of Yiwu. By contrast, shop owners said during recent visits, bulk orders for materials supporting former Vice President Joe Biden have been almost nonexistent.“We’ve had four or five shoppers for Trump materials each month,” said Ge Lu, a salesman at one of about 100 shops specializing just in flags, referring to big purchasers who buy banners by the thousands. “We’ve had one Biden shopper this year.”The place isn’t for the average shopper. Yiwu is home to the world’s largest wholesale market, where global retailers look for items to stock on their own shelves. In building after cavernous building, buyers for companies big and small pick through stalls featuring hats, T-shirts, banners, face masks, baby toys, knapsacks, modeling clay and practically any other manufactured product that will delight the world’s fickle consumers.It is also home to what Chinese watchers of U.S. politics — a nervous group these days, given souring relations between the two countries and Beijing’s tighter limits on conversation — call the Yiwu Index. Big demand for a presidential candidate’s merchandise, goes the theory, translates into big voter turnout in November.Right now, according to the informal and highly unscientific index, Trump leads Biden substantially.“Trump still has the better chance,” said Zhang Zhijiang, the owner of a caps and hats factory in Jiangsu province who keeps a sales office in the Yiwu market.Trump might welcome the news from Yiwu. He trails Biden in nationwide polls and in a majority of key battleground states just a week before the election. His campaign has been shaken by the coronavirus, which continues to spread relentlessly through the United States and has even struck the White House.Followers of the Yiwu Index believe it is reliable, however, and they have history on their side. In 2016, the index consistently predicted a Trump victory. In the final weeks of the campaign, demand for Hillary Clinton hats and other souvenirs weakened considerably.“They started off even, but then they stopped selling, and later, Trump sold more,” said Dai Fuli, the owner of a baseball cap factory in the city of Qingdao who maintains an outlet in Yiwu.China is watching the election nervously. Trump launched a trade war against Beijing and has taken a more confrontational approach on issues like high-tech export controls, industrial espionage, Taiwan and the South China Sea.At the same time, some in China expect little improvement under a Biden administration. They worry that Biden might even step up criticism of China’s human rights record while strengthening U.S. alliances with China’s neighbors and with Europe to limit China’s rise.Official anxiety has led to light coverage of the election. Chinese state media has reported the large role that money plays and urged without success that China policy not become a political issue. On Chinese social media, Trump’s frequent interruptions during debates with Biden attracted widespread attention.Given the political sensitivities, the government-controlled market has banned big displays of campaign merchandise for fear of looking partisan. Many merchants declined to speak during the recent visits.Formally named the Yiwu International Trade City, it boasts 12 times the floor space of the Empire State Building, making it look like a small city. Much of the complex was hastily and even shoddily built two decades ago, giving its prematurely aging buildings a ramshackle look.It has 70,000 shops, and transactions taking place under its many roofs exceed $60 billion a year. The national government considers the market enough of an indicator of the health of light manufacturing that it manages its own Yiwu Index, of average prices at the shops.With some disorderly exceptions, floors are organized by type of merchandise. The warren-like corridors of one floor were devoted to hats. A second housed flags. A third floor featured costumes and masks, while another was devoted to toys.Dai, the owner of the baseball cap factory in Qingdao, rents a stall on the hat floor. She said orders for Trump baseball caps had been consistently strong for two years. Biden cap orders were negligible until he became the expected Democratic nominee last spring, but only in recent weeks have these customers wanted to put down cash, she added. The recent orders arrived too late to make and deliver the hats before the election.So the total for Trump cap orders so far this year: “There are tens of thousands this year,” Dai said. “Biden has a few thousand.”Despite its accuracy in 2016, the Yiwu political index has its flaws. Often the buyers are not the campaigns themselves but proxies, like companies and other institutions that want to express their support for a candidate, or simply stores that want to sell popular merchandise.The pandemic has interfered with normal marketing. China has barred practically all international visitors since the end of March, and it has required stringent, two-week quarantines for those who do enter. This has reduced overall activity compared with the 2016 presidential campaign, merchants said.The pandemic has also produced different styles of campaigning. Trump has emphasized large gatherings, with supporters waving pennants and wearing various campaign merchandise, which increases demand for goods from Yiwu. Biden has avoided holding or encouraging mass gatherings in person and has relied more on online events.As in 2016, Trump also appears to be gaining a considerable share of his support from people in rural areas, where people may have more room for yard signs and banners. Biden has done better in cities, where apartment dwellers have less room to wave flags.Some vendors think Biden’s supporters may simply be taking business elsewhere. Zhang, the hat factory owner in Jiangsu province, said Biden supporters appeared to be placing more of their baseball cap orders in Vietnam and Myanmar.With trade with the United States increasingly in doubt, a few Yiwu vendors said they were becoming less interested in the U.S. market. In the flag section, some appeared to be appealing instead to China’s rising nationalism. On the flag floor, the corridors were a scarlet sea of red national flags, red Chinese Communist Party pennants and other souvenirs.Yet Trump paraphernalia is still in demand. At a Halloween mask factory outlet, rubbery Trump masks were consistently popular and completely sold out.The factory created a Biden mask, said Gigi Zhang, the store manager, but nobody had ordered it yet.

Yiwu is home to the worlds largest wholesale market, where global retailers look for items to stock on their own shelves. Trumps campaign paraphernalia — hats, banners, mugs and practically anything else that can carry a logo — has been selling briskly.

Kolkata: Bharti Airtel's home broadband business – that recorded the highest growth in the last 22 quarters in the July-...
29/10/2020

Kolkata: Bharti Airtel's home broadband business – that recorded the highest growth in the last 22 quarters in the July-September period -- is likely to continue seeing strong traction in the coming months with demand for its new fiber-to-the-home (FTTH) plans likely to rise as vast swathes of India Inc continue working from home, post-Covid, say analysts.The Sunil Mittal-led telco's digital TV business too, they said, would see strong subscriber additions, driven by a combination of the ongoing Indian Premier League (IPL) cricket tournament and festive season demand.Brokerage J M Financial said Airtel's net 129k home broadband customer additions during July-September was the highest in the last 22 quarters, adding that “the momentum in this business would continue, driven by the new FTTH plans and increased demand, post-Covid”.BNP Paribas backed the view, saying the telco's fixed broadband subscriber adds “spiked to a multi-year high on the work from home (WFH) tailwind”. It added that Airtel's home broadband and enterprise margins had improved sharply over the last year and its digital TV business too had reported strong user adds and was poised to further improve momentum with the IPL and festive season ahead.At an earnings call Wednesday, Bharti Airtel chief executive Gopal Vittal was gung ho on the rapid expansion of home broadband coverage, in the aftermath of the Covid lockdowns. The company, he said, had added 1 million home passes in existing markets during the fiscal second quarter, especially as people working from home relied heavily on high-speed broadband coupled with the surge in online education and streaming services.A key reason behind Airtel's strong 549k customer adds in the digital TV space in the September quarter, he said, was the distribution synergy that the telco was able to get by leveraging the larger mobility sales system. The telco's digital TV and home broadband user bases have grown to 17.4 million and 2.6 million respectively in the fiscal second quarter.Brokerage CLSA said Bharti's non-mobile businesses have seen a strong ramp-up, and revenues from home broadband services, digital TV and Airtel enterprise business have all risen by 1-2% on-quarter. Overall non-mobile business revenues grew 2% on-quarter to Rs 4,920 crore.Analysts said Airtel enterprise business revenue that rose 2.3% sequentially in the September quarter, was helped by new product launches such as Airtel Blue Jeans, Airtel Cloud amongst others for B2B customers. They expect the revenue momentum to continue in this business aided by the new partnerships and increased demand for digitisation.

A key reason behind Airtel's strong 549k customer adds in the digital TV space in the September quarter, he said, was the distribution synergy that the telco was able to get by leveraging the larger mobility sales system. The telco's digital TV and home broadband user bases have grown to 17.4 millio...

Mumbai: Analysts gave a thumbs up to Titan's September quarter earnings and reiterated their faith in the Tata Group's j...
29/10/2020

Mumbai: Analysts gave a thumbs up to Titan's September quarter earnings and reiterated their faith in the Tata Group's jewellery-to-watches firm as they expect a rapid recovery in sales.Ace investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 4.43 per cent and 1.09 per cent stake in Titan, as per the latest shareholding data.Titan reported a net profit of Rs 199 crore for the quarter ended September, down 37.81 per cent from Rs 320 crore a year ago but still managed to meet analysts’ estimates.The company said it has incurred a loss of Rs 484 crore during the quarter as a result of change in the cash flow hedging.Though the multibagger stock has been languishing for the last two sessions amid weak market sentiment, it has doubled over the last three years. Over the last five years and 10 years, it has logged 236 per cent and 562 per cent gains, respectively.Brokerage Motilal Oswal pointed out that though higher-than-expected ineffective hedges impacted EBITDA margins in 2QFY21, the management has clarified that impact in subsequent quarters will be sharply lower now since sales predictability is increasing.“Nevertheless, while sales were in line in 2QFY21, the miss on EBITDA/PAT had led to a decline in EPS estimates for FY21, while FY22E numbers are relatively unchanged,” it said.“Faster-than-expected sales recovery and attractive structural opportunity mean that we retain our buy rating,” the brokerage added. It maintained a target price of Rs 1,400.ICICI Securities too reiterated its 'add' rating on the stock and raised target price to Rs 1,350 from Rs 1,250 as it expects profitability to return to normal levels in FY22 once revenue growth and product mix normalise.The brokerage said the potential growth drivers are: boost to volumes from stable gold prices, consumers likely accepting higher gold prices and market share gains.Prabhudas Lilladher too retained its 'accumulate' on Titan as steady recovery across jewellery, watches and eyewear segments sustained during October. The brokerage has a target price of Rs 1,352.“We believe improving consumer sentiments, higher walk-ins with improved conversion rates and ticket sizes, robust e-com watch sales and better product mix in eyewear division are positives,” Prabhudas Lilladher analysts said.“Jewellery division is expected to be back to growth in Q3 on the back of festival and wedding demand though coin sales will be high like in Q2 due to investment demand,” they added.

ICICI Securities reiterated its 'add' rating on the stock and raised target price to Rs 1,350 from Rs 1,250 as it expects profitability to return to normal levels in FY22 once revenue growth and product mix normalise.

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