New Delhi: Ace investor Rakesh Jhunjhunwala has reduced his stake in Tata Group firm Titan Co. Ltd to 7.37%, according to a regulatory filing.

Jhunjhunwala had sold 1.25 crore Titan shares between 22 May and 28 June. Before the shares sale, the ace investor owned 8.78% stake in the company.

Titan shares fell around 8% between 22 May and 28 June, amid broad selling pressure in midcap stocks.

Currently, Jhunjhunwala owns 6.54 crore shares, representing a 7.37% stake in Titan, according to the BSE filing.

At 11.23am, Titan shares rose 2.17% to 856.25 on BSE, while the Sensex was up 0.59% at 35,245.27 points. In intraday trade, the stock rose 2.54% to 859.40.

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