Today Titan’s stock has fallen by up to 7 percent and it weakened to the level of 1911. Whereas on Thursday it closed at Rs 2061.
Titan Stock Price: Today i.e. on June 17, there is a huge decline in the shares of Titan Company, a lifestyle product maker. Today the stock of Titan has fallen by up to 7 percent and it weakened to the level of 1911. Whereas on Thursday it closed at Rs 2061. The decline in the stock has been continuous and it has weakened by 28 percent in 3 months and about 31 percent from the record high. Along with the fall in the stock, Rakesh Jhunjhunwala’s crores of rupees have also sunk in these 3 months. Let us tell you that Rakesh is Jhunjhunwala’s biggest investment in terms of value in Titan.
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3500 crores of Jhunjhunwala cleared in 3 months
Talking about the last 3 months, between 17 March 2022 to 17 June 2022, the stock has fallen by about 28 percent. During this, the stock weakened from Rs 2703 to Rs 1911. Rakesh Jhunjhunwala holds 5.1 percent stake in the company and has a total of 44,850,970 shares in his portfolio. In this sense, about 3550 crore rupees were lost in 3 months.
3 months ago the share price was Rs 2703. Jhunjhunwala’s portfolio was then worth Rs 12123.20 crore in terms of 44,850,970 shares. Whereas today the stock has come down to Rs 1911 and its value has come down to 8571.02 crores in his portfolio. Talking about one day, only today the value of shares has decreased by 575 crores.
Share also made Jhunjhunwala rich
By the way, the share of Titan Company has also proved to be lucky for Rakesh Jhunjhunwala. Rakesh Jhunjhunwala had invested in this company for the first time in the year 2003, then the share price was Rs 3, which has now increased to Rs 2061 (closing price on June 16, 2022) after almost 19 years. That is, since then investors’ money has increased 687 times. That is, the stock has given 68600 percent return during this period. However, in the last 3 months, Jhunjhunwala is facing a loss of 3550 crores.
Brokerage opinion on shares
There have been reports of different brokerages in the past, in which they are showing positive to the stock. Brokerage house Motilal Oswal has given a target of Rs 2900 while advising to buy in the stock. That is, the brokerage house is expecting a new high in the stock. Brokerage house Sharekhan also has a target of Rs 2900 on the stock and has investment advice. Brokerage house Centrum Broking in its previous report has given investment advice keeping a target of Rs 2817 for the stock. While the target of ICICI Direct is Rs 2725.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)