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Rakesh Jhunjhunwala stock soars 12% in one month. Experts see more gain

Rakesh Jhunjhunwala portfolio: The company is seeing a strong recovery in demand, following the easing of COVID-19 curbs from June 2021, in both the jewellery and the non-jewellery segments. (Reuters)Premium
Rakesh Jhunjhunwala portfolio: The company is seeing a strong recovery in demand, following the easing of COVID-19 curbs from June 2021, in both the jewellery and the non-jewellery segments. (Reuters)

  • Rakesh Jhunjhunwala portfolio: As per the shareholding pattern of the company for Q1 FY2021-22, Big Bull and his wife Rekha Jhuunjhunwala have investments in the company.

Rakesh Jhunjhunwala portfolio: Indian stock market observers and retail investors were quite surprised when the 'Warren Buffett of India' trimmed in his favourite Tata group stock Titan Company. As per the shareholding pattern of Titan Company for April to June 2021 quarter, Rakesh Jhunjhunwala cut down his stake around 0.30 per cent in the luxury products company. However, market investors seem unmoved by this Rakesh Jhunjhunwala's decision, as Titan Company share price has shot up 12 per cent in the last one month and market experts are still expecting ‘bull run’ in the counter as the stock has given fresh breakout on technical chart.

Highlighting the strong fundamentals in regard to this Rakesh Jhunjhunwala portfolio stock; Arijit Malakar, Head of Research at Ashika Stock Broking said, "Titan Company has posted better-than-expected results for Q1FY22. The company is seeing a strong recovery in demand, following the easing of COVID-19 curbs from June 2021, in both the jewellery and the non-jewellery segments. This Rakesh Jhunjhunwwala company has maintained gross profit margins both on YoY as well as QoQ basis. Mandatory jewellery hallmarking and localised initiatives enable the company to gain market share. The proportion of new customers in the overall business has reached pre-pandemic levels, which indicates strong growth prospects. The growth outlook for Titan will remain optimistic given strong parentage, brand, market position and balance sheet strength."

Advising investors to initiate fresh buying in this Rakesh Jhunjhunwala holding company; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan Company shares have given fresh breakout at 2,000 on closing basis. The stock is looking positive on the chart pattern and one can initiate fresh buying in the counter for immediate short-term target of 2075 to 2100. Those who still hold the counter are advised to further hold for the same immediate short-term targets. However, one must maintain strict stop loss at 1950 while taking fresh position or further holding the counter."

Rakesh Jhunjhunwala share holding in Titan Company

As per the shareholding pattern of Titan Company for Q1 FY2021-22, Rakesh Jhunjhunwala and his wife Rekha Jhuunjhunwala have investments in the company. Rakesh Jhunjhunwala holding in the Tata group company is 3,30,10,395m company stocks or around 3.72 per cent net company shares while his wife Rekha Jhunjhunwala holding in Titan Company is 96,40,575 stocks or 1.09 per cent of the net company shares.

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

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