Rakesh Jhunjhunwala net worth Today saw a huge jump in a matter of minutes as one of his portfolio stocks of Titan Company reached its lifetime high ₹2362 on NSE – 214.35 logging intraday gain per share. Tata company’s stock opened at all-time high in opening deals, helping its investor Jhunjhunwala earn ₹900 crores in minutes.
How Rakesh Jhunjhunwala earned ₹900 crore
As per the shareholding pattern of Titan Company for Q2FY22, Rakesh Jhunjhunwala holds 3,30,10,395 shares of the company while his wife Rekha Jhunjhunwala holds 96,470,575 shares of Titan Company. Hence, both hold 4,26,50,970 shares of Titan Company.
Titan Company’s share price increased by 214.35 today with Jhunjhunwala’s net earnings on jewelery stock ₹900 crore ( ₹214.35 x 4,26,50,970 = ₹914 crores).
Titan shares rise over 9 per cent, surpass market valuation ₹2 lakh crore figure, the company said, adding that there has been a strong recovery in demand in the July-September quarter.
Shares of Titan Company rose 9.39 per cent to hit their 52-week high ₹2,348.45 on the BSE while it rose 9.30 per cent on the NSE to hit a 52-week high. ₹2,347.40 each.
After a jump in its share price, the company’s market capitalization climbed ₹2,08,026.05 crore on BSE.
Among the Tata group firms, Tata Consultancy Services (TCS) was the first Tata company to achieve this position. ₹Market valuation mark of 2 lakh crores. Its current market valuation is at ₹14,19,973.35 crores.
Titan said on Wednesday that it saw a strong recovery in demand in the July-September quarter, and that its sales across most of its divisions have either risen above or near pre-pandemic levels.
Titan said in its quarterly update that most stores are now fully operational, with local restrictions, in select cities, with total store operating days up more than 90 percent for the quarter.
In addition to the digital channel thrust, Titan accelerated the expansion of its retail network during the quarter.
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