In the first quarter of the current financial year, when Big Bull Rakesh Jhunjhunwala reduced his stake in Tata Group’s favorite share Titan Company, market watchers were stunned. Jhunjhunwala had reduced his stake in the stock of this company by 0.30 percent. But in the last one month, the stock has risen 12 per cent. Stock market watchers believe that reducing the stake of Rakesh Jhunjhunwala will not make much difference to this stock. There may still be more gains in this.
Titan’s jewelery and non-jewellery segment performed well
According to analysts, Titan has performed better than expected in the first quarter of FY 2021-22. It has had a spectacular recovery since the lockdown was eased in June 2021. The company’s jewelery and non-jewellery segments both have performed well. In terms of sales and gross margin, it has shown good performance as compared to the last financial year. Titan will also benefit from making jewelery hallmarking rules mandatory. The level of customers of both the jewelery and non-jewellery business of the company has reached the pre-covid level and now it is expected to increase further. Titan’s position looks very strong in terms of brand, customer confidence, market position and balance sheet. Therefore, further growth in its shares is expected in the coming days.
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Jhunjhunwala holds 3.72 per cent stake in Titan
According to the shareholding pattern of Titan Company, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold around four per cent stake in the company in the first quarter of FY 2021-22. Rakesh Jhunjhunwala currently holds 3.72 per cent stake in the company. At the same time, his wife Rekha Jhunjhunwala holds 1.09 percent stake in Titan. Rekha Jhunjhunwala has 96,40,575 shares in the company.
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