This stock earned Rekha Jhunjhunwala Rs. 1,390cr in 1 month
Rekha Jhunjhunwala, wife of late ace investor Rakesh Jhunjhunwala, has earned a staggering Rs. 1,390 crore in just one month from her investment in Titan Company Ltd, a Tata group company. The stock has been on an uptrend since mid-March, making it an ideal "buy on dips" stock for positional investors. Titan shares have hit record highs multiple times this week, boosting Jhunjhunwala's net worth significantly.
Titan's share price soars, boosting stakeholders
Titan's share price has been rising since mid-March, hitting lifetime highs in the last two straight sessions. In the year-to-date period, Titan's share price has surged over 28%, while in the last six months, it has risen nearly 40% from around Rs. 2,355 to Rs. 3,302.45 apiece. Jhunjhunwala has nearly 4.76 crore Titan Company shares, accounting for 5.36% of the company's total paid-up capital.
LIC gains Rs. 458 crore from Titan's growth
Life Insurance Corporation of India (LIC) has also reaped the rewards of Titan Company Ltd.'s growth. According to the shareholding pattern for Q1 FY24, LIC holds about 1.57 crore Titan shares, representing 1.77% of the company's total paid-up capital. With Titan's share price gaining Rs. 291.80 apiece in the last month, LIC's net worth has increased by approximately Rs. 458 crore.
A look at Titan Company's stock prices
Today, Titan Company Ltd. opened at Rs. 3,277.55 per share on the NSE and clocked a low of Rs. 3,240. It is currently trading at Rs. 3,249.20, which is down 0.47% compared to yesterday. Titan has a market capitalization of Rs. 2.88 lakh crore. On the BSE, it is trading at Rs. 3,253.20 apiece (down 0.30%).
