Rakesh Jhunjhunwala lost ₹230 crore in these two stocks in 10 minutes

Shares of Titan Company opened with today’s fall on NSE 22.70 per share against the closing price 2280.40 on the NSE on Friday and went down further at 2241.10 till 9:25 am. So, in just 10 minutes, this stock of Rakesh Jhunjhunwala sank to the tune 39.30 per share against Friday’s closing price.

Similarly, the share price of Tata Motors on NSE opened with today’s fall. 10.30 per share against its closing price 470.20 level on Friday. In the next 10 minutes, the share price of Tata Motors fell further Intraday loss is rising in Rakesh Jhunjhunwala’s portfolio stock from 454.30 level 15.90 per share.

Rakesh Jhunjhunwala holding in Titan Company, Tata Motors

As per the Titan Company’s shareholding pattern for the July to September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this Tata company. Rakesh Jhunjhunwala holds 3,37,60,395 shares of Titan Company, which is 3.80 percent of the total issued capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in the company. So, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have 4,33,00,970 shares of Titan Company.

Similarly, the shareholding pattern of Tata Motors for the July to September 2021 quarter shows that Rakesh Jhunjhunwala holds 3,67,50,000 shares of the company, which is 1.11 per cent of the company’s net paid-up capital.

The dent in the net worth of Rakesh Jhunjhunwala

Reasons for the fall in the share price of Titan Company 39.30 per share against Friday’s closing price in the first 10 minutes of morning deals and Rakesh Jhunjhunwala and his wife hold 4,33,00,970 shares of the company, the decline in the net worth of Rakesh Jhunjhunwala after the fall in this share price I have come 170 crore ( 39.30 x 4,33,00,970).

As the share price of Tata Motors fell 15.90 per share in the first 10 minutes and Rakesh Jhunjhunwala has 3,67,50,000 shares of the company, after this fall in Tata Motors there is around a dent in the net worth of Rakesh Jhunjhunwala 60 crores.

So, the fall in the net worth of Rakesh Jhunjhunwala is around the first 10 minutes of the morning due to the fall in the shares of Tata Motors and Titan Company. 230 crore ( 170 cr+ 60 crores).

Outlook for Titan Company, Tata Motors

Speaking on the outlook for these two Rakesh Jhunjhunwala portfolio stocks; Sumeet Bagadiya, Executive Director, Choice Broking said, “The stock of Titan Company is currently in a tight range. from 2150 2300. If the stock manages to close above After the 2300 level, we can expect some sharp rally in the stock. Similarly, the share price of Tata Motors is ranged in the middle from 430 460 levels. once it breaks 460 hurdle, then we can expect a sharp jump in this Tata stock.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.