This Tata Stock Made Rekha Jhunjhunwala ₹117 Cr Richer Today

Rekha Jhunjhunwala saw a substantial increase in her wealth today, as Tata Motors‘ stock price soared over 3%. Shares of the auto giant surged up over 3% to hit an intraday high of ₹731.

The surge in Tata Motors’ share price comes as the company on Thursday evening announced that its plan to convert differential voting rights shares to ordinary shares gets a no-objection certificate from NSE and BSE. Domestic brokerage firm Motilal Oswal also maintained its “buy” rating for the stock with a target price of ₹750.

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Now coming back to Jhunjhunwala’s net worth, she holds a 1.6% stake in Tata Motors, equating to 5.32 crore shares. The stock’s previous close was at ₹708.85, valuing her holdings at ₹3,775.05 crore. However, with the stock reaching a 52-week high of ₹731.00 today, the value of her stake rose to ₹3,893.01 crore.

Price Action: Tata Motors’ share price was up 2.90% to trade at ₹729.40 on Friday morning.

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Posted In: EquitiesMarketsRekha JhunjhunwalaTata GroupTata Motors