Rekha Jhunjhunwala Trims Stake In Titan In June Quarter, LIC Raises Holding

Titan filed its latest shareholding data with the exchanges on Thursday evening.

What Happened: As per the filing, India’s biggest insurer, LIC raised its stake in the Tata Group company during the April -June period. As of June 30, 2024, LIC held around 1.92 crore shares or a 2.17% stake in the jewellery giant. This is a sizeable increase from the 1.57 crore shares or 1.78% stake it held at the end of March 2024.

Mutual Fund holdings in the company also went up by around 0.17% during the June quarter. SBI Nifty 50 ETF now holds a 1.53% stake in the company, compared to the 1.51% stake it held at the end of March 2024.

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On the other hand, Rekha Jhunjhunwala trimmed her stake during the June quarter. She held around 5.32% stake at the end of the June quarter, compared to the 5.35% shares she held at the end of March 2024.

Earlier in the week, the company shared its business update for the quarter ended June. During the quarter, Titan expanded its retail network by adding 61 new stores, bringing the total to 3,096 stores. The jewellery segment experienced a 9% growth, with 34 new stores added. Meanwhile, the watches and wearables segment grew by 15% and added 17 new stores.

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