Ace investor Rakesh Jhunjhunwala and his spouse have made a handsome profit from investment in Titan Company share for the reason that March. The Jhunjhunwala couple has earned Rs 914.Ninety-one crore from their investment in the Titan Company stock considering March quarter. Currently, they maintain over Rs 8,040 crore on this jewelry maker inventory. At the stop of March area, the couple had Rs 7, a hundred twenty-five crore funding inside the list.
Rakesh Jhunjhunwala, who held five. Seventy-two % stake or 5.07 crore shares within the company on the cease of March quarter is sitting on a profit of Rs 743.86 crore. The Titan Company stock charge stood at Rs 1,141.05 on March 29, 2019. It hit an all-time excessive of Rs 1,287.55 in change today.
His wife, Rekha Jhunjhunwala, who owned 1.32% or 1.16 crore shares of Titan Company at some point of the duration under consideration, has earned Rs 171.05 crore in taking advantage of her funding within the patron durables firm.
Rakesh Jhunjhunwala first sold six crore shares of Titan in 2002-2003 at Rs three, in keeping with media reviews. Since then, he has been shopping for and promoting Titan stocks in his portfolio. Jhunjhunwala, also known as India’s Warren Buffett, pared his stake from 5. Seventy-eight% or five. Thirteen crore stocks at the cease of December sector in 2018 to five.72% inside the final zone.
This stock turned into valued just Rs 4 in 2009, and now it is worth over Rs 650!
However, his wife’s stake noticed a growth in shareholding at some point of the identical period. Rekha Jhunjhunwala’s stake in the company rose from 1.30% or 1.15 crore stocks at the quit of December region to at least one.32% stake within the March quarter.
A rise in the couple’s wealth may be attributed to the Titan Company inventory touching a new high. From Rs 1141.05 on March 29 this yr, the stock rose 12.Eighty-three% to its all-time high of Rs 1287. Fifty-five in a change nowadays.
Rakesh Jhunjhunwala grew to Rs 1 lakh into Rs 7. Five lakh in four years with this inventory!
The inventory also acquired good cues from the fashion in profits for Q4 and the last economic.
Titan Company pronounced a 14.4% rise in its consolidated net profit for the sector ended March 31.
The company posted consolidated internet earnings of Rs 348.Three crore in comparison to Rs 304 crore inside the identical area ultimate 12 months. Total sales rose 19.87% at Rs 4,945 crore compared to Rs 4,125 crore on a year in the past foundation.