Rekha Jhunjhunwala's net worth jumped Rs 233 crore in 10 minutes as Titan share price surged to hit an intraday high of Rs 2,619 apiece levels in early morning deals on Thursday.
Titan Company shares surged amid news of company's plans to expand its retail footprint with the addition of 140 to 150 stores during FY24. This aggressive expansion plan covers four of the company's jewellery brands-Tanishq, Mia, CaratLane, and Zoya.
In the sharp rise, Titan share price logged a Rs 49.70 per share rise within 10 minutes, leading to a rise in Rekha Jhunjhunwala's net worth to the tune of Rs 233 crore.
According to the shareholding pattern of Titan Company for Q4FY23, Rekha Jhunjhunwala owns 4,69,45,970 Titan shares. As Titan share price today shot up Rs 49.70 apiece in 10 minutes, Rekha Jhunjhunwala's net worth due to this rise stands at Rs 2,33,32,14,709 or around Rs 233 crore.
According to the shareholding data of Titan Company for Q4FY23, Rekha Jhunjhunwala holds a 5.29% stake in this Tata group company. However, in Q4FY23, Rekha Jhunjhunwala was holding 4,58,95,970 Titan shares or a 5.17% stake in the company.
Rekha Jhunjhunwala, the wife of late Rakesh Jhunjhunwala, raised shareholding in Titan Company from Q3FY23 by 0.12% buying 10.50 lakh Titan shares during Q4FY23.
As per the latest corporate shareholdings filed, Rekha Jhunjhunwala publicly holds 29 stocks with a net worth of over Rs 27,199.1 crore, Trendlyne data shows.
In the last one month, Titan share price has risen from around Rs 2,460 to Rs 2,590 apiece levels, logging more than a 5% rise in this period. However, in YTD time, this Tata group stock has risen just 1%.
In last one year, Rekha Jhunjhunwala portfolio stock Titan has surged from near Rs 2,480 to Rs 2,590 per share levels, rising more than 4% in this time.
Titan stock touched a 52-week high of Rs 2,791 on October 31, 2022, and a 52-week low of Rs 1,825.05 on July 1, 2022, indicating that at the current level, the stock is trading around 42% above its 52-week low and 6% below its 52-week high.
In Q4FY23, Titan Company reported healthy double-digit growth across its key businesses. It announced a 25% increase in revenue year-over-year for the March quarter, largely due to strong performances by its watches & wearables and emerging business segments.
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