Jhunjhunwala Portfolio: The favorite stock of veteran investor Rakesh Jhunjhunwala reached a record high with a gain of about 3.5 per cent today.
Jhunjhunwala Portfolio: The preferred stock of veteran investor Rakesh Jhunjhunwala today (January 7) reached a record high with a gain of about 3.5 per cent. Due to the revenue growth of 26 percent in the December quarter, the shares of Titan, included in Jhunjhunwala’s portfolio, rose to a record price of Rs 2687.30 on the BSE today. Earlier, its prices had reached a record high of Rs 2678.10 in October 2021 last year, which it crossed today.
As per the company’s shareholding pattern, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 4.33 crore shares in Titan, which is equivalent to 4.9 per cent stake. The company had achieved 36 percent more revenue in the last quarter (October-December 2021) due to strong demand.
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Experts gave these suggestions to investors
- Titan’s prices have gained 10 percent in the last one month, 51.6 percent in six months and 70 percent in the last one year. According to Pavitra Shetty, Co-Founder, Tips2Trades, technically till the time Titan shares do not close above Rs 2,777, investors should make profits by selling some shares in their portfolio. However, according to Shetty, if it closes above this, then its price can reach a height of Rs 2782. Talking about the support level, it is getting immediate strong support at the level of Rs 2752.
- Milan Vaishnav (CMT, MSTA), Consulting Technical Analyst & Founder, Gemstone Equity Research & Advisory Services advises investors to maintain their position with a stop loss of Rs 2500 level. According to Vaishnav, the trend of bullishness is visible in its price even further.
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Company’s business was excellent in December quarter
Tata Group’s jewelery business Titan Company’s business grew by 37 percent in the December 2021 quarter on a year-on-year basis. This does not include Boolean sales figures. According to the information given by the company, the business of the company increased due to strong festive demand for jewelery in October and November. Apart from this, Titan’s business in the watches and wearables category also grew 28 percent year-on-year, while the eyewear business grew 27 percent due to strong demand for sunglasses and frames.
(Article: Surbhi Jain)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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