This Large Cap Stock Made Rekha Jhunjhunwala ₹130.31 Crore Richer Today

Rekha Jhunjhunwala saw a significant increase in her net worth today, thanks to the impressive performance of the Metro Brands stock. The stock reached an intraday high of ₹1083.85 on Friday.

Rekha Jhunjhunwala owns 9.6% or 26,102,394 shares of Metro Brands. So, on the previous day, when the stock closed at ₹1034.15, the value of her holding was ₹2,698.17 crore. Today, with the stock’s high at ₹1083.85, her stake’s value went up to ₹2,828.48 crore.

The company that operates brands like Crocs and Vans in India earlier in the month posted its earnings for the quarter ended June. The leading footwear company’s revenue from its operations rose by 14.68%, reaching ₹582.52 crore in comparison to the ₹507.9 crore it earned during the corresponding quarter of the previous year.

However, its profit for the April-June period was ₹92.8 crore, showing a decline of 12% from the same period last year. Despite this decrease, the figure surpassed market expectations, which were estimated to be around ₹80 crore.

Price Action: Metro Brands’ share price was up 4.36% to trade at ₹1,079.20 in the late hours of trading on Friday.

Read Next: A Quick Beginner’s Guide To Investing: All The Basics

Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesMarketsMetro BrandsRekha Jhunjhunwala