Rakesh Jhunjhunwala lost ₹318 crore in this Tata stock in 10 minutes

Rakesh Jhunjhunwala portfolio: On account of weak global cues, Indian stock market nosedived in early morning deals. Nifty today is around 200 points lower whereas BSE Sensex has shed more than 800 points today. In this bear-ridden stock market, ace Rakesh Jhunjhunwala lost around ₹318 crore within 10 minutes of market opening in Titan Company shares. Titan Company share price today opened at ₹2,336 levels and went on to dip at ₹2,283.65 per share levels at 9:25 AM — just 10 minutes after the opening bell today.

Rakesh Jhunjhunwala shareholding in Titan Company

Titan Company share price had closed at ₹2,357.25 per share levels yesterday on NSE and today it went down at ₹2,283.65 after 10 minutes of market opening, losing ₹73.60 per shares in this period. As per Titan Company shareholding pattern 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.

Dent to Rakesh Jhunjhunwala's net worth

As Jhunjhunwalas hold 4,33,00,970 Titan Company shares and the stock lost ₹73.60 per share within 10 minutes of market opening, dent to Rakesh Jhunjhunwala's net worth due to slide in this Tata stock comes around ₹318 crore ( ₹73.6 x 4,33,00,970).

Titan Company share price prediction

However, market experts are looking at dip as good buying opportunity for retail positional investors.

Advising buy on dips strategy top positional investors; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan Company shares have strong support at ₹2200 levels. One should buy this stock at current levels and hold it for the immediate short-term target of ₹2350 to ₹2400 maintaining stop loss at ₹2200 levels." Bagadia advised investors to accumulate further if the stock dips around ₹2230-2240 levels.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.