This Footwear Stock Made Rekha Jhunjhunwala ₹160 Crore Richer Today

Shares of Metro Brands jumped up over 4% on Wednesday to hit a new 52-week high of ₹1,032.85. Rekha Jhunjhunwala owns a 14.40 stake in the company.

Shares of the company have been rallying after the company posted its earnings for the March quarter last month. The company saw a significant increase in its operational revenue, rising by more than 34% compared to the previous year, reaching ₹544.13 crore. However, there was a slight decrease in net profit for the period, with ₹68.49 crore compared to the ₹68.79 crore reported in the corresponding quarter of the previous year.

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The numbers also impressed brokerage firms across the board, who remained positive on the stock after the results came out.

Brokerage Firm	Rating	Price Target
Motilal Oswal	Buy	₹1,070
ICICI Secutities	Buy	₹1,050
Nuvama	Buy	₹1,065

Now, to the part you are looking for. Here’s how this footwear added ₹160 crore to Jhunjhunwala’s net worth today. On Tuesday, when the stock closed at ₹990, Jhunjhunwala’s stake was worth around ₹3,876.20 crore. Today with the surge, the value of her 39,153,600 shares went up to ₹4,043.97 crore. An increase of around ₹167.59 crore.

Price Action: Metro Brands shares were up 3.84% to trade at ₹1,028 in the early hours of trading on Wednesday.

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