This Footwear Stock Added ₹120 Crore To Rekha Jhunjhunwala's Net Worth Today

Metro Brands shares surged close to 3% on Tuesday to hit a new 52-week high of ₹988.70. As per the latest shareholding data, Rekha Jhunjhunwala owns a 14.40% stake in the company.

What Happened: Shares of the footwear major have been upbeat after the company posted its earnings for the March quarter last week (May 23). The company’s revenue from operations went up over 34% year-over-year to ₹544.13 crore. Net profit for the period came in marginally lower at ₹68.49 crore as against profits of ₹68.79 crore it reported in the same quarter last year.

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Since then shares of the company have gone up by 10%. The company had also announced a ₹1.5/share dividend for the year ended March.

Now, Rekha Jhunjhunwala owns 14.40% or 3.91 crore shares of the company. Yesterday, when the stock closed at ₹958.20 the value of her holding was ₹3,751 crore. Today, with the surge, the value of her stake went up to ₹3,871 crore. An increase of around ₹120 crore. She would also receive ₹5.87 crore as dividend payment for her shares.

Price Action: Metro Brands’ share price was up 1.24% to trade at ₹970.05 in the late hours of trading on Tuesday.

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Posted In: EquitiesMarketsMetro BrandsRekha Jhunjhunwala