Rakesh Jhunjhunwala portfolio: Those two Big Bull-owned stocks are — Titan Company and Tata Motors
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Rakesh Jhunjhunwala portfolio:Following weak global cues and rising Omicron crisis, Indian stock market today extended the bear run on Dalal Street. The NSE Nifty crashed 381 points and hit 16,604 levels whereas BSE Sensex nosedived 1250 points and hit 55,761 levels in early morning deals. In this selloff heat, Big Bull Rakesh Jhunjhunwala has lost around ₹230 crore in his two favourite Tata stocks within 10 minutes of market opening. Those two Tata stocks are — Titan Company and Tata Motors.
Titan Company share price today on NSE opened with a downside gap of ₹22.70 per shares against its close price of ₹2280.40 on NSE on Friday and went on to dip further at 2241.10 by 9:25 AM. So, in mere 10 minutes, this Rakesh Jhunjhunwala stock dipped to the tune of ₹39.30 per share against its Friday close price.
Similarly, Tata Motors share price today on NSE opened with a downside gap of ₹10.30 per shares against its close price of ₹470.20 levels on Friday. In next 10 minutes, Tata Motors share price went further down at ₹454.30 levels extending intraday loss in Rakesh Jhunjhunwala's portfolio stock to ₹15.90 per shares.
Rakesh Jhunjhunwala holding in Titan Company, Tata Motors
As per shareholding pattern of Titan Company for July to September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this Tata company. Rakesh Jhunjhunwala holds 3,37,60,395 Titan Company shares, which is 3.80 per cent of the total issued paid up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 company shares or 1.07 per cent stake in the company. So, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 4,33,00,970 Titan Company shares.
Likewise, Tata Motors shareholding pattern for July to September 2021 quarter suggests that Rakesh Jhunjhunwala holds 3,67,50,000 company shares, which is 1.11 per cent of the net paid up capital of the company.
Dent to Rakesh Jhunjhunwala's net worth
As Titan Company share price dipped ₹39.30 per share against its Friday close price in first 10 minutes of early morning deals and Rakesh Jhunjhunwala and his wife holds 4,33,00,970 company shares, dent to Rakesh Jhunjhunwala's net worth after this stock price fall is around ₹170 crore ( ₹39.30 x 4,33,00,970).
As Tata Motors share price dipped ₹15.90 per shares in first 10 minutes and Rakesh Jhunjhunwala holds 3,67,50,000 company shares, dent in Rakesh Jhunjhunwala's net worth after this fall in Tata Motors is around ₹60 crore.
So, total dip in Rakesh Jhunjhunwala's net worth due to the fall in Tata Motors and Titan Company shares in first 10 minutes of morning session is around ₹230 crore ( ₹170 crore + ₹60 crore).
Outlook for Titan Company, Tata Motors
Speaking on the outlook for these two Rakesh Jhunjhunwala portfolio stocks; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan Company stock is currently in the range of ₹2150 to ₹2300. If the stock manages to close above ₹2300 levels then we can expect some sharp upside in the stock. Similarly, Tata Motors share price is range-bound in between ₹430 to ₹460 levels. Once it breaks this ₹460 hurdle, then we can expect sharp bounce back in this Tata stock."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.