Rekha Jhunjhunwala Portfolio Stock Rises: Rekha Jhunjhunwala’s day started on a good note as her net worth climbed by around Rs 233 crore in just 10 minutes of the stock market’s opening bell on Thursday. In early morning deals on Thursday, Tata group company Titan Company’s share price today opened upside and went on to hit an intraday high of Rs 2,619 apiece levels within 10 minutes of the stock market’s opening bell today.
In this sharp rise, Titan’s share price logged Rs 49.70 per share rise within 10 minutes leading to rise in Rekha Jhunjhunwala’s net worth.
As per the shareholding data of Titan Company for October to December 2022 quarter, Rekha Jhunjhunwala holds 4,58,95,970 Titan shares, which is 5.17 per cent of total paid up capital of Titan Company Ltd. As per the shareholding data of Titan Company for October to December 2022 quarter, Rekha Jhunjhunwala holds 4,58,95,970 Titan shares, which is 5.17 per cent of total paid up capital of Titan Company Ltd. in first 10 minutes of Thursday session is Rs 2,33,32,14,709 or around Rs 233 crore.
Earlier this month, Rekha Jhunjhunwala emerged as the top Indian entrant in the 2023 M3M Hurun Global Rich List. She also bagged the third spot on Forbes’ richest women in 2022, just behind Savitri Jindal and Vinod Rai Gupta.
She took over the wealth and stock portfolio from her late husband Rakesh Jhunjhunwala, who breathed his last at the age of 62 years last year in August.
Titan’s Share Price History
During Thursday’s trade, the stock opened at a price of Rs. 2,577.65 per share against the previous close of Rs. 2,569.30 and grew further during the early trading session to touch an intraday high of Rs. 2,619 per share. It was trading at Rs 2,598.60, up by 1.14 per cent, at 10:30 a.m. on the NSE.
The stock touched a 52-week high of Rs. 2,791 on October 31, 2022, and a 52-week low of Rs. 1,825.05 on July 1, 2022, indicating that at the current level, the stock is trading over 42 per cent above its 52-week low and 6.8 per cent below its 52-week high.
The stock has surged over 5 per cent in the last one month. However, in the last six months, it has given a negative return of almost 2 per cent. Furthermore, the stock has increased by nearly 171 per cent in the last five years.
Titan Q4 Results
In Q4, the company reported healthy double-digit growth across its key businesses. It announced a 25 per cent increase in revenue year-over-year for the March quarter, largely due to strong performances by its watches & wearables and emerging business segments.
Titan is primarily involved in the manufacturing and sale of watches, jewelry, eyewear and other accessories and products. Part of the Tata Group and started as a joint venture with TIDCO, the company has its corporate headquarters in Bangalore.
Brokerage firm CLSA expects Titan’s eyewear business to triple (grow 3.3 times) over the next five years. The firm has maintained its buy rating on the stock and raised its price target to Rs 3,150.
The revised price target implies a potential upside of 22 per cent from Tuesday’s closing levels.
CLSA is valuing Titan’s eyecare business at $1.9 billion, citing Lenskart’s recent fund raising deal as a reference point for valuations.
Lenskart, India’s largest organised eyewear player recently raised funds at a valuation of nearly $4.5 billion.
CLSA further said that non-jewellery businesses offer significant optionality. The brokerage increased its Earnings per Share (EPS) estimates for Titan by 3-4 per cent for financial year 2024-2026.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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