Big Bull Rakesh Jhunjhunwala made 1,331 crore from just two Tata Group stocks in the vacation-shortened week as Sensex and Nifty soared to fresh all-time highs. Two of the greatest bets made by the ace investor, Titan Company Ltd and Tata Motors, charted a northward journey for the duration of the prior 4 trading sessions, assisting Rakesh Jhunjhunwala pocket handsome returns. While Titan’s share price tag jumped 8.98%, auto important Tata Motors skyrocketed a huge 30%. Domestic equity markets have been scaling fresh record highs repeatedly, helped by healthier financial output as the earnings season starts on Dalal Street.
Tata Motors zooms ahead
Share price tag of Tata Motors has been in a league of its personal this week. The stock soared a huge 30% considering the fact that closing last Friday to finish yesterday’s session at Rs 496 per share. At the finish of last week, Rakesh Jhunjhuwala’s shareholding of 3.77 crore equity shares in Tata Motors was valued at Rs 1,445 crore. As the stock price tag soared greater and scaled fresh 52-week higher, the worth of major bull’s stake in Tata Motors was up at Rs 1,874 crore immediately after yesterday’s trade. This translated to a profit of Rs 429.59 crore in just 4 trading days.
So far this year, Tata Motor’s share price tag has zoomed 166.27% and analysts continue to see more upside prospective. Analysts at Emkay Global have a target price tag of Rs 515 per share on the stock post the TPG deal Tata Motors announced this week. ICICI Direct also has a Rs 515 apiece target price tag on Tata Motors, adding that the TPG deal unlocks worth for the stock. “The transaction unlocks EV business value and demonstrates the future potential of the changing technology landscape in mobility,” they added.
Titan stock shines vibrant
Titan has been one of the most prized possessions for Rakesh Jhunjhunwala. The ace investor owns 4.26 crore shares of Titan Company Limited along with his wife Rekha Jhunjhunwala. The couple’s 4.81% stake in the firm was valued at Rs 10,046 crore at the finish of last week. The stock gained 8.98% this week to close yesterday’s session at Rs 2,567 per share. The worth of Rakesh Jhunjhunwala’s investment at yesterday’s closing bell was Rs 10,948 crore. This translated to a profit of Rs 902 crore this week.
Titan has been in Rakesh Jhunjhunwala’s portfolio for years now. The stock has zoomed 64.7% so far in 2021. Earlier this month, Titan mentioned that it has seen a robust overall performance in the July-September quarter, staging a robust recovery from the lows of the second wave of covid-19. Analysts stay bullish on the stock, nevertheless, Titan is presently trading above the estimates pinned by analysts at Motilal Oswal, Emkay Global, and ICICI Direct.