Rakesh Jhunjhunwala portfolio: Most of the people were surprised when Rakesh Jhunjhunwala reduced his stake in Tata Group’s stock Titan Company. The reason for surprise was that Titan Company has been one of the most preferred stocks of Rakesh Jhunjhunwala.
According to the shareholding pattern of Titan Company, between April and June 2021, Rakesh Jhunjhunwala reduced his stake in the jewelery and watches company by 0.30%.
Although market experts still trust Titan Company. This company has given 12% return in the last one month. Despite this, market experts are expecting more upside in this. Titan Company has made a fresh breakout on the technical chart, which is indicating that it will further accelerate further. On September 6, the shares of Titan Company closed at flat Rs.2020.
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Regarding the shares of Titan Company, Arijit Malakar, Research Head, Ashika Stock Broking, said that the company’s results in the first quarter of Fiscal Year 2022 were better than expected. The company’s sales have increased due to the reduction in coronavirus infection and the easing of the lockdown.
Titan Company has maintained gross profit margins on both quarter-on-quarter and year-on-year scales. The company will also benefit from making hallmarking mandatory. However, the government has extended the mandatory hallmarking deadline by three months to November 2021.
Sumeet Bagadia, Executive Director, Choice Broking said that with the closing price of 2000, the company has given a fresh breakout. Looking at the technical chart, it is clearly visible. The target of shares of Titan Company in the short term is Rs 2075-2100. However, do not forget to put a stop loss at Rs 1950.
Rakesh Jhunjhunwala’s stake in Titan Company
As per the shareholding pattern of Titan Company for the June quarter of FY 2021, Rakesh Jhunjhunwala holds 3.72 per cent stake. Whereas Rekha Jhunjhunwala holds 96,40,575 shares i.e. about 1.09 percent stake.
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