Titan Slides 8% On Gold Duty Jitters; Morgan Stanley Flags 30% Upside To Rs 5,212
Titan shares have dropped 8% over five sessions amid fears of a gold import duty hike to 10%, but Morgan Stanley stays overweight with a Rs 5,212 target. The brokerage argues over 50% of Titan's gold comes from customer exchanges, insulating margins from duty shocks. Stock trades at Rs 4,021, down 0.8% intraday.
Titan shares fell 8% over five sessions on gold customs duty hike fears, but Morgan Stanley maintains overweight with Rs 5,212 target, citing over 50% gold sourced from customer exchanges insulates Titan from import duty impact.