I think the global problem is here to stay. That’s almost common knowledge and apart from this, we might see cycles with upward movements showing temporary improvement as also the downward spirals. At the global level, the time projections which are being made by Elliott Wave International are probably the most accurate and these range between 2013 and 2016 for a significant possibility of bottoming out. But in the interim period, like I said, we will have several cycles which implies that right now we have had a year’s downturn and probably we are at the beginning of an upward movement in the markets,
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Source: Dalal Street Investment Journal
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The Global Markets gives out negative cues this morning. European stocks fell this week after the Federal Reserve said the pace of economic recovery is likely to be ‘more modest’ than forecast and European industrial production unexpectedly declined. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index to the lowest level in three weeks, after Japans economy expanded at the slowest pace in three quarters and U.S. retail sales missed economist estimates. In commodities, Crude oil traded near a one month low after a report showed Japans economy grew at a slower-than- expected rate and Asian equities fell. Gold advanced for a third day as signs that the global economy is faltering help fan demand for the metal as a store of value. Copper gained in London and New York, rebounding from the first weekly loss in a month, as last weeks decline boosted purchases. Prices dropped in Shanghai. The Indian markets trade on a flat note this morning as it witnesses lacklustre session. Consumer Durables index is the main gainer this morning providing some support to the markets by gaining nearly one and half percentage points. Market breadth is positive with 1,730 advances against 958 declines. The Sensex trades in green at 18,173.01 gaining 5.98 points or 0.03 percentage points. Nifty trades at 5458.35 gaining by 6.25 points or 0.11 percentage points.

Source: Dalal Street Investment Journal
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Targets Rs10,000cr revenues, 10% EBIT, 25% market share in Gold in next 4 years: Titan aspires to reach Rs10k crore of Gold revenues, 25% market share in branded jewellery and 10% Gold EBIT margins from its current levels of Rs35bn revenues, 4% market share and 7.5% EBIT margins, respectively, by FY14. Addition of 12-15 stores per year (200 stores by FY15) and increasing proportion of studded jewellery (from 27% now to targeted 40% in FY14) should facilitate the above goals. Efforts at improvement in stock turns, in both Gold and Diamond (which enjoys similar RoCE), shall also help drive margins,

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Source: Dalal Street Investment Journal
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Targets Rs10,000cr revenues, 10% EBIT, 25% market share in Gold in next 4 years: Titan aspires to reach Rs10k crore of Gold revenues, 25% market share in branded jewellery and 10% Gold EBIT margins from its current levels of Rs35bn revenues, 4% market share and 7.5% EBIT margins, respectively, by FY14. Addition of 12-15 stores per year (200 stores by FY15) and increasing proportion of studded jewellery (from 27% now to targeted 40% in FY14) should facilitate the above goals. Efforts at improvement in stock turns, in both Gold and Diamond (which enjoys similar RoCE), shall also help drive margins,

To read full research report you can bookmark this URL:
http://www.dsij.in/productattachment/BrokerRecommendation/TitanInd.pdf

Source: Dalal Street Investment Journal
www.dsij.in