Titan Company Limited, which is a Tata Company, had drawn all attention towards itself in the market. The main reason is that the record date for its final dividend payment approaches tomorrow. Titan Company Limited had announced a final dividend of INR 11 per share on May 3, 2024. Along with this it also announced its quarterly results. This dividend is the highest since 2010, when an INR 15 per share dividend was declared.
Record Date and Eligibility
The record date for this Titan’s final dividend is set for June 27, 2024. So, only the investors who have purchased Titan shares on or before June 26, 2024 will be eligible for this dividend pay-out. This final dividend is a significant incentive for shareholders.
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Stock Performance
Titan Shares were experiencing a 10% correction in May, 2024 and a further 5.5% decline in April. After that, Titan shares have seen a 5% increase in June, 2024. Despite the recent recovery, Titan’s stock is still down 7.3% for the year 2024. If the stock does not recover these losses by end of the year, this could mark Titan’s first negative annual return since 2016.
Market Analysis
As on June 26, 2024, titan shares are trading at INR 3,375.5, which is 0.8% lower than the previous trading day. The stock’s price-to-earning (P/E) ratio for the financial year 2025 is 68.8x. This is below its five-year average of 93.2x P/E. Out of 32 analysts covering Titan, 20 recommend a “buy rating”, 8 suggest a “hold rating” and the remaining 4 have a “sell rating”.
Significant Shareholding
Titan remains a significant holding in the portfolio of the late Rakesh Jhunjhunwala. His portfolio is now managed by his wife, Mrs. Rekha Rakesh Jhunjhunwala. As of the FY 2024, March quarter, their cumulative holding in Titan stood at 5.35%, This is valued at INR 16,144 crore based on the current market price.
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Investors are closely watching Titan ahead of its dividend record date. The stock’s recent performance, dividend announcement and significant shareholder interest has made it a key focus in Dalal Street. With the record date just around the corner, now is the last chance for the investors to buy Titan shares. Only then they will qualify for the dividend pay-out.
About the Author
Mr. Radhesh Tarang Shah, is a third-year management student at Institute of Management, Nirma University. He has a passion for writing articles and poems. He has experience as a financial analyst, author, news writer, marketer and social worker.
