Rekha Jhunjhunwala‘s net worth got a massive boost today as Titan’s share price soared to a new all-time high.
Titan’s share price soared up over 3% on Friday to hit an all-time high of ₹3,861.50. Shares of the Tata Group company are showing positive momentum today as CLSA maintained its “buy” rating on the stock. The global brokerage firm has set a target price of ₹4,494 for the stock.
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CLSA’s positive view of Tanishq (Titan’s jewellery division) is based on the jewellery brand’s unique pricing strategy. Tanishq’s approach of aligning making charges with product prices as a percentage demonstrates its pricing power, especially in the premium segment. This stands out compared to other major competitors, where making charges typically decrease as product prices rise. Tanishq’s ability to maintain a consistent premium reflects its emphasis on design, consumer trust, and customer service. This distinct strategy contributes to Tanishq’s higher operating margins and returns.
Jhunjhunwala holds a 5.37% stake in Titan, which amounts to 47,695,970 shares. The stock’s previous close was at ₹3,734.70, valuing her holdings at ₹17,813 crore. However, with the stock reaching an all-time high of ₹3,861.50 today, the value of her stake rose to ₹18,417 crore.
Price Action: Titan's share price was up 1.67% to trade at ₹3,796.90 in the early hours of trading on Friday.
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