Titan Industries - Leg Up In Offing; Retain BUY - Emkay

- Strong performance - Revenues up 15% yoy to Rs 26.1bn, EBIDTA margins up 110bps yoy to 10.2%, EBIDTA up 29% yoy to Rs2.7 bn and APAT at Rs 2bn, up 24% yoy

- Some clarity on regulatory overhang (1) TCS imposed on gold jewellery purchase in excess of Rs0.5 mn and (2) likely status quo on 'Gold Leasing' mechanism

- (1) Clarity emerging on regulatory risks (2) sustains upbeat performance and (3) retain promise of sustained growth; Retain BUY with revised price target of Rs330/Share

Source : Equity Bulls

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