Rakesh Jhunjhunwala created Rs 196.94 crore in the final 5 trading sessions from just one of his investments though the benchmark indices plunged amid heightened volatility. Often named the significant bull of Dalal Street, Rakesh Jhunjhunwala is recognized for his really like for the stock that has helped him accomplish this feat and it is not the initial time this single stock has aided his portfolio in such a manner. The stock, Titan Company Ltd. Share value of Titan was Rs 1,467.7 apiece at the finish of final week’s and this week, in spite of the fall on Wednesday and Thursday, Titan shares closed with gains.
Rakesh Jhunjhunwala along with his wife Rekha Jhunjhunwala owned a 5.32% stake in the firm at the finish of December final year, according to the shareholding pattern obtainable on the stock exchanges. Of this, the ace investor has 3,75,10,395 equity shares to his name though 96,60,575 equity shares are in the name of his wife.
Cumulatively the worth of the 4.71 crore equity shares owned by the Jhunjhunwala’s stood at Rs 6,923.28 crore at the finish of the earlier week’s trade. As Titan’s share value zoomed this week, with a 2% jump on Tuesday and a 4% spike on Friday, the worth of Rakesh and Rekha Jhunjhunwala’s stake elevated to Rs 7,120.22 crore. This translates into an addition of Rs 196.94 crore to the wealth of the significant bull though the stock markets witnessed a bearish sentiment.
Although the Rekha and Rakesh Jhunjhunwala have trimmed their holdings in Titan more than the earlier quarters, the stock has continued to surge. In the final six months, the stock has zoomed 32%. Titan share jumped 33% in the final quarter, which could have been the explanation behind Rakesh Jhunjhunwala trimming his stake in the firm and booking income. The Jhunjhunwala’s trimmed their holdings in Titan by 18 lakh equity shares final quarter.
Titan has been bouncing back strongly from the pandemic. In the earlier quarter, the firm reported a 16.7% on-year boost in income, though EBITDA jumped 13.7%. Net profit in the third quarter of the fiscal year jumped more than 10% for Titan. In a current interaction at the Edelweiss e-Conference 2021, Titan management hinted that development continues to stay sturdy in January.
(Calculations based on the shareholding pattern for quarter ended December 2020, obtainable on stock exchanges)