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Rakesh Jhunjhunwala stock near life-time high. Will it climb to a new peak?

Rakesh Jhunjhunwala portfolio: Titan Company may report strong Q4 numbers on margin benefits as gold price recently shot up to the tune of 19-month high of $2070 per ounce levels in international markets. (Reuters)Premium
Rakesh Jhunjhunwala portfolio: Titan Company may report strong Q4 numbers on margin benefits as gold price recently shot up to the tune of 19-month high of $2070 per ounce levels in international markets. (Reuters)

  • Rakesh Jhunjhunwala portfolio: Titan share price is in uptrend. One can buy and hold the stock at current levels for one month target of 2650 to 2700 per share levels

Rakesh Jhunjhunwala portfolio: Titan Company share price is near to its life-time high of 2,687.25 apiece levels. According to stock market experts, the stock is expected to reap margin benefit of recent gold price rally in international market. They said that chances are bright for the jewelry stock to give better Q4 numbers in upcoming result season. They said that Titan share price are in uptrend and may climb to a new life-time high in next one month.

Speaking on this Rakesh Jhunjhunwala stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan share price is in uptrend. One can buy and hold the stock at current levels for one month target of 2650 to 2700 maintaining stop loss at 2450." Sumeet Bagadia of Choice Broking advised positional investors to add this Tata group stock in their portfolio as the stock looks promising for medium and long term as well.

Echoing with Sumeet Bagadia's views; Anuj Gupta, Vice President at IIFL Securities said, "After sharp appreciation in gold price, we may seen a momentum in bullion stocks like Titan shares. These jewelry companies are expected to report margin benefit in upcoming result season as gold prices shot up to the tune of 19-month high of $2070 per ounce levels in international markets. Technically, Titan share price is in positive zone and fundamentally this stock is a profitable statement. So, one can buy and hold the stock for medium to long term time horizon." He said that the stock may go up to 2800 apiece levels in short term.

Rakesh Jhunjhunwala shareholding in Titan Company

According to Titan Company shareholding pattern for October to December 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have shareholding in the company. Rakesh Jhunjhunwala owns 3,57,10,395 Titan Company shares, which is 4.02 per cent of total issued paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 Titan Company shares or 1.07 per cent stake in the company. So, Jhunjhunwalas together own 4,52,50,970 company shares or 5.09 per cent stake in this Tata Group flagship company.

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

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
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