Jhunjhunwala Portfolio: Big Bull Rakesh Jhunjhunwala today made a profit of Rs 950 crore due to the rise in the shares of Titan. The business of this company of Tata Group increased in July-September 2021, due to which the sentiment of investors was strengthened about its shares. On Wednesday, October 6, it had closed at Rs 2151.80 on the BSE and today its prices reached a height of Rs 2374.90. This is the highest price of Titan in the last one year.
According to Titan’s July-September 2021 quarter business update, the company’s jewelery business grew 78 per cent year-on-year, while watches and wearables grew 73 per cent. Apart from this, there was an annual growth of 121 percent in the other business of the company. According to market experts, there is a possibility of great growth in this company right now, due to which the rating to buy this stock remains intact.
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4.81% stake in Jhunjhunwala’s company
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 4.26 crore equity shares of Titan. Both have a 4.81 percent stake in the Tata Group company. His stake in the company is around Rs 10117.07 crore. Jhunjhunwala, who is called the Warren Buffett of India, has been a favorite stock of Jhunjhunwala and this stock has been included in his portfolio for more than ten years.
This gaming company, held by Rakesh Jhunjhunwala, raised funds of Rs 315 crore, will expand rapidly
This is the opinion of experts regarding investment
- Brokerage firm ICICI Direct has said in its report that Titan has performed well in terms of stock performance and its prices have grown at a CAGR of 40 per cent (Compound Annual Growth Rate) in the last five years. The brokerage firm has retained its ‘buy’ rating at Rs 2550 per share. According to the brokerage firm, apart from the festive and wedding season, the company’s growth prospects are showing better due to the softening of gold prices.
- According to analysts at Motilal Oswal, the stable gold prices in the last few months boosted the demand, which supported the company’s growth. The brokerage firm has predicted further upside in Titan and has retained its ‘buy’ rating. Motilal Oswal has set a target price of Rs 2460 on 65x Dec’23E EPS.
(Article: Kshitij Bhargava)
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