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[ad_1] Ace investor Rakesh Jhunjhunwala’s portfolio stock Titan has plunged 16% so far this year underperforming NSE Nifty 50 which has plunged 9.5%. However, the Tata Group company share price is expected to rally 39% going forward on the back of strong earnings, jewellery business, eye care business and watches & wearables segment growth, according to Motilal Oswal Financial Services. Titan is clearly the leader among organized players in leading the growth in jewellery industry. “Its runway for growth is long, with a market share of just around 6%,” the brokerage said. Titan Company shares were trading at Rs 2,140, up 2.34% on BSE intraday. Rakesh Jhunjhunwala owns 3.5 crore shares while his wife Rekha holds 95 lakh shares of Titan, per the latest shareholding pattern data. The couple collectively held 5.05% stake in the company till quarter ended March 2022. Jewellery business: Huge headroom for growth Titan’s jewellery business has posted a healthy CAGR of 18% over the last five years, despite COVID-led disruptions. Its EBIT CAGR has been even stronger at 24% over the same period. On the other hand, the increase in sq. feet and store count have posted a CAGR of 9% over the past five years, suggesting that half the growth during this period has come from SSSG which is very encouraging.  Analysts at Motilal Oswal believe that the business still has huge headroom for growth with just a 6% market share of the Rs 4 lakh crore segment. Furthermore, it has a much lower share in the weddings, solitaire, and high value studded segment. Titan on Friday said it is aiming at a growth of 2.5 times in its flagship jewellery business in the next five years. It plans to add over 600 stores across 300 cities in the next three years. Stating that the Indian jewellery market is seeing a shift and is formalising, Titan said the trend is “favouring organised players”. Watches and Wearables: Growth in both Premium, Luxury segment Trends post pandemic show that the premium segment recovered before the mid-market segment, smaller towns recovered before larger towns , and there has been a boom in online sales. The management is optimistic about the analog Watch segment. Gifting and outdoor occasions which had been significantly affected in the preceding couple of years are seeing a revival which is a positive for the company. Titan’s watches and wearables business is witnessing growth in both the Premium and Luxury segment as well as the mass sub-Rs 1,000 segment.  Titan World has been reimagined to be positioned as a much more premium offering. The Tata Group company renovated 130 stores in FY22 while adding 60 stores and it aims to add 130 stores in FY23. The new format now covers 60% of the network. Wearables is touted to be an Rs 9600 crore market in FY23. Titan is present in the Rs 4,000-15,000 price point, analysts added. Eye Care: Next two years expected to be transformational years Analysts at Motilal Oswal noted that the next two years are expected to be transformational years for Titan’s Eye Care business. The company has shifted its focus towards ‘Eye Care’ v/s just eyewear. Lately, there has been a slew of innovations, including anti-fog, anti-viral, lens technology, as well as perfecting the fit of frames for Indian faces. The business has worked towards becoming leaner by closing four lens labs and exiting from LFS and CSD formats. Fastrack frames were also launched targeting youth online and now the company is launching its first physical store. Titan eye+ opened 180 new stores in FY22 and has a total count of 760 stores, which are all mostly franchised. The company has identified an addressable user base of 200 million. The management aims to double frame production and deliver 45% lens capacity growth in FY23. Titan aims to open two stores in Dubai by the end of FY23. Initiatives that may potentially drive future growth Titan aims to achieve Rs 1000 crore in sales for women’s ethnic wear by FY27 with 125 stores across the country. It intends to evibe the saree, especially among young women, and will like to offer contemporary, elegant and differentiated designs. Taneira’s network is 90% a franchisee model. While the salience of sarees to Taneira’s business is currently 93%, it is expected to move toward 75% by FY27 as other Ethnic wear like lehengas, salwar kameez, etc. begin to sell. Women’s handbags will see a launch in FY23 under the Fastrack brand and the target is to achieve Rs 1000 crore sales by FY27. Stock talk: Top pick in the largecap Consumption space in India Titan Company shares remain Motilal Oswal’s top pick in the largecap Consumption space in India, with strong earnings growth visibility and compounding ~20% for an elongated period of time. “In the Jewelry industry, which is organizing at a rapid pace, Titan is clearly at the vanguard among organized players in leading this growth. Its runway for growth is long, with a market share of just 6%. Unlike other high growth categories, the competitive intensity from organized and unorganized peers in Jewelry is considerably weaker. Expensive valuations in the near term will get burnt off by a rapid pace of growth,” the brokerage said in its report. It maintained a ‘buy’ rating on the stock with a target price of Rs 2,900, implying 39% upside. (The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.) [ad_2] Source link

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[ad_1] As many as 60 central public sector enterprises (CPSEs) under ministries of fertiliser, textiles, chemicals and petrochemicals, pharmaceuticals and commerce are likely to feature on the initial list of firms for privatisation or closure, as the government embarks on implementing the new public sector enterprises (PSE) policy in the ‘non-strategic sectors’. There are about 175 CPSEs in the non-strategic sector, one-third of which will ultimately be closed and of the rest, viable units will be privatised while a handful of not-for-profit companies will be retained in the public sector, sources told FE. A group of officers from Niti Aayog, department of public enterprises and administrative ministries are identifying the companies which will be privatised or closed as per the PSE policy. All the nine CPSEs under the fertiliser ministry, including Madras Fertilizers and National Fertilizers are likely to be privatised over the years, an official source said. Given the massive fertiliser import by the country, the government has been trying to scale up domestic manufacturing in recent years and these companies could be attractive for the private sector given the captive market for the products. Among the CPSEs under the textiles ministry, the Centre will likely go for closure of the ailing National Textile Corporation (NTC), which has 23 mills with obsolete technology. “It will be difficult to find a buyer for NTC as its machinery are old and based on outdated technology. However, its land has value which can be monetised,” another official said. Two trading companies under the commerce ministry will will be closed down as their businesses have become unviable over the years. Cotton Corporation of India (CCI) and the Jute Corporation of India (JCI) will be retained in the government sector as they are public good companies set up for the welfare of farmers. CCI procures cotton and JCI jute from farmers through price support operations under the minimum support price (MSP) mechanism. The Budget for FY22 unveiled the strategic sector policy which entails that the government have a minimum presence in the four broad sectors while the remaining ones can be privatised or merged or closed. These sectors are atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; banking, insurance and financial services. In the non-strategic sector, all CPSEs will be privatized or closed in case of privatisation is not possible. [ad_2] Source link

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[ad_1] Technology, like all businesses, benefits from diversity. Thanks to the NetApp Excellerator, a fairly successful startup accelerator programme of NetApp, the California-based company, women entrepreneurs are on cloud nine these days. In just five years since its inception, the programme has accelerated the journey of over 60 startups operating in the deep tech space, of which several are led by women. “In a 5-year journey, six of 58 alumni startups have been acquired and 13 have raised additional funds,” says Ravi Chhabria, managing director, NetApp India. With Cohort 10, NetApp has onboarded eight new startups that are leveraging technology to solve real-world problems. EduFuse, Streamingo Solutions, LivNSense, AccuKnox, NeuroSAPIR, ShardSecure, Kubermatic, and Subcom form this elite cohort, representing diverse sectors like green-tech, kubernetes, computer vision, health-tech, and cloud security. Through NetApp ExcellerateHER, an initiative launched in 2020 that promotes women founders, NetApp has mentored eight women-led deep-tech startups so far. The current cohort of ExcellerateHER will also see participation from 3 tech startups – LivNSense, EduFuse, and Streamingo – taking the tally to 11. “The NetApp ExcellerateHER Program is an excellent initiative,” said Vidhya Vinay, co-founder of Streamingo Solutions (Cohort 10). “At Streamingo Solutions, we offer digital automation solutions to perform human activity analysis in videos through our AI-powered video insights platform, FizzStream. The global exposure one can get along with access to great minds and knowledge through NetApp, is very special. At the same time, it is comforting to meet and interact with other successful women entrepreneurs and role models,” she added. Vidhya Vinay, co-founder of Streamingo Solutions (Cohort 10) As a SaaS platform, FireCompass (Cohort 9) operates in the space of Continuous Automated Red Teaming (CART) and Attack Surface Management (ASM). The platform continuously indexes and monitors deep, dark and surface webs using nation-state grade reconnaissance techniques. Says Priyanka Aash, its co-founder, “being a part of the NetApp ExcellerateHER program has been a great experience. What was personally exciting was the joint go-to-market (GTM) opportunity we were offered. Through this, we were introduced to NetApp’s team of global experts. Additionally, the paid proof of concept which was an integral part of the programme helped fine-tune our offerings,” she revealed. Priyanka Aash, co-founder, FireCompass (Cohort 9) BrainSight.AI (Cohort 9) is a niche SaaS tool that helps predict the course of illness in brain disorders. “Being a woman entrepreneur running a deep tech startup, it was difficult to access role models in the same space. With the NetApp ExcellerateHER program, I was able to learn from peers who have followed a similar path,” says Laina Emmanuel, co-founder and CEO of BrainSight.AI. “NetApp was able to provide us with access to their cutting-edge resources as well as NetApp-enabled AWS experts that helped us build the technical architecture for our platform through a cloud-based solution,” she added. Laina Emmanuel, co-founder and CEO of BrainSight.AI (Cohort 9) Says Chhabria , “the fifth anniversary of the NetApp Excellerator program sees us guiding a new generation of startups that are all hybrid multi-cloud enabled and built on data at scale across the world’s most prevalent cloud services”. Over the years, the programme has evolved to become truly global in nature. As a result, the startups have access to resources, mentors, and industry experts from across geographies. In the last five years, NetApp has mentored 20 global startups, with the current cohort including five global startups from Germany, the United States, and Israel. [ad_2] Source link

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