This Tata Stock Made Rekha Jhunjhunwala ₹405 Cr Richer Today

Rekha Jhunjhunwala saw a substantial increase in her net worth, as Titan‘s share price jumped back into green on Friday. Titan’s share price surged up around 2% to hit an intraday high of ₹3,737. The surge today halted the stock’s three-straight day losing streak.

Jhunjhunwala holds a 5.37% stake in Titan, equating to 4.76 crore shares. The stock’s previous close was at ₹3,652.05, valuing her holdings at ₹17,418 crore. However, with the stock reaching an intraday high of ₹3,737.00, the value of her stake escalated to ₹17,823 crore.

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Earlier this month, the Tata Group company posted its earnings for the quarter ended December. The standalone net profit of the Jewellery giant amounted to ₹1,040 crore, marking a 9.4% increase from the ₹951 crore profit recorded in the corresponding period last year. However, this figure fell short of street estimates, which had projected a profit of around ₹1,120 crore.

Titan’s standalone revenue for the quarter reached ₹13,071 crore during the October-December period,, reflecting a robust 22% growth compared to the ₹10,651 crore reported in the same quarter last year.

Price Action: Titan’s share price was up 1.17% to trade at ₹3,694.75 on Friday.

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Posted In: EquitiesMarketsRekha JhunjhunwalaTata GroupTitan