Rekha Jhunjhunwala Portfolio Stock Rises: Rekha Jhunjhunwala started the day on a good note as her net worth soared by nearly Rs 233 crore in just 10 minutes after the stock market opened on Thursday. In morning deals on Thursday, the share price of Tata group company Titan Company opened with gains and touched an intraday high of Rs 2,619 within 10 minutes of the stock market opening today.
In this rapid growth, the share price of Titan increased by Rs 49.70 per share within 10 minutes, thereby increasing the net worth of Rekha Jhunjhunwala.
As per the shareholding data of Titan Company for the October to December 2022 quarter, Rekha Jhunjhunwala holds 4,58,95,970 shares of Titan, which is 5.17 per cent of the total paid-up capital of Titan Company Limited. In the October to December 2022 quarter, Rekha Jhunjhunwala holding 4,58,95,970 Titan shares, which is 5.17 per cent of the total paid-up capital of Titan Company Limited, was valued at Rs 2,33,32,14,709 or approx in the first 10 minutes of Thursday’s session. Is. 233 crores
Earlier this month, Rekha Jhunjhunwala emerged as the top Indian entry in the 2023 M3M Hurun Global Rich List. She secured the third position in the Forbes list of richest women in 2022 behind Savitri Jindal and Vinod Rai Gupta.
She took over the property and stock portfolio from her late husband Rakesh Jhunjhunwala, who breathed his last in August last year at the age of 62.
titan share price history
During Thursday’s trading, the stock opened at Rs. 2,577.65 per share as against the previous close of Rs. 2,569.30 and during the opening trading session rose further to touch a high of Rs. 2,619 per share. It was trading at Rs 2,598.60, up 1.14 per cent, on the NSE at 10:30 am.
The stock touched a 52-week high. 2,791 on October 31, 2022 and a 52-week low of Rs. 1,825.05 on July 1, 2022, indicating that at current levels, the stock is trading 42 percent above its 52-week low and 6.8 percent below its 52-week high.
The stock has gained more than 5 per cent in the last one month. However, it has given negative returns of around 2 per cent in the last six months. Moreover, the stock has gained about 171 per cent in the last five years.
Titan Q4 Results
In Q4, the company posted healthy double-digit growth across its core businesses. It also announced a 25 percent year-over-year revenue increase for the March quarter, largely due to strong performance from its watches and wearables and emerging business segments.
Titan is primarily involved in the manufacturing and sales of watches, jewelry, eyeglasses, and other accessories and products. Part of the Tata Group and started as a joint venture with TIDCO, the company’s corporate headquarters are in Bangalore.
analyst takes
Brokerage firm CLSA expects Titan’s eyewear business to triple (grow 3.3x) in 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 valuation.
India’s largest organized eyewear company Lenskart recently raised funding at a valuation of around $4.5 billion.
CLSA further said that non-jewellery businesses provide significant optionality. The brokerage raised its earnings per share (EPS) estimates for Titan by 3-4 per cent for FY2024-2026.
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