JPMorgan Stays Overweight On Titan As Gold-Exchange Traction Lifts Jewellery Momentum
Brokerage roundup flags retail-relevant calls: JPMorgan retains Overweight on Titan on gold-exchange traction; HSBC keeps Buy on Phoenix Mills citing 25%+ consumption growth over three quarters and strong mall and hotel RevPAR; Investec hikes Delhivery TP to Rs 610 and initiates Hold on Hyundai at Rs 2,100 on India PV outlook.
Brokerage roundup with retail-relevant calls: JPMorgan stays Overweight on Titan amid gold-exchange traction; HSBC keeps Buy on Phoenix Mills on strong mall consumption and hotel RevPAR; Investec hikes Delhivery TP; Investec initiates Hold on Hyundai's India PV outlook.
Why this matters
Titan's Overweight rating comes as its 39% growth trades at a rich 79x P/E, versus Senco Gold's 60% growth at just 9x earnings—raising questions on valuation despite gold-exchange traction.
Retail-brand signals accelerating, up +276300% QoQ.