Rakesh Jhunjhunwala Portfolio Shares of Titan Company is one of the favorite portfolio stocks of Big Bull Rakesh Jhunjhunwala. ‘Warren Buffett of India’ and his wife Rekha Jhunjhunwala have invested in the Tata group company, which stunned market observers after reporting strong growth momentum, indicating healthy market share gains. According to stock market experts, the share price of Titan Company is already in an ‘uptrend’ and after this strong business update of the third quarter, they are expecting a sharp jump in this share of Rakesh Jhunjhunwala.
Speaking on Rakesh Jhunjhunwala Portfolio Stocks; Sumeet Bagdia, Executive Director, Choice Broking said, “Titan Company stock is looking bullish on the chart pattern. It may go up. 2700 per share level in immediate short term while it may go up in short term 2900 per share level. Hence, I suggest to the positional investors to buy this Tata group share by maintaining the stop loss at the current market price 2525 levels.”
Highlighting strong fundamentals emerging from Titan Company’s Q3FY22 business update; Ashit Desai, Senior Research Analyst, Emkay Global Financial Services, said, “Titan’s Q3 business update reflects a strong growth momentum, indicating healthy market share. The jewelery division posted a strong 2 year growth of 37 per cent. (ex-bullion sales) has registered a CAGR of 26 per cent, excluding bullion sales of “adding,” 3.4 billion in the base quarter, the jewelery segment grew 37 per cent in Q3 and posted a healthy 2-year CAGR of 26 per cent. The strong sales CAGR was driven by a jump of around 15 per cent in ticket size against pre-pandemic levels, higher footfalls/conversions and around 9 per cent CAGR in the number of stores. Management attributed strong trends to new customer acquisitions along with increased demand for jewelry during the festive season, aided by its regional strategy. Studded mix improved slightly compared to last year. Enrollment in the Golden Harvest Scheme (GHS) registered a strong double-digit growth. Tanishq’s network was expanded by 14 stores, including two new stores at key locations in Dubai.”
Ashit Desai of Emkay Global Financial Services also suggested Titan Company shareholders to move counter to its next short to medium term target. 3,000 levels.
Rakesh Jhunjhunwala’s stake in Titan Company
As per the Titan Company’s shareholding pattern for the September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold a stake in the Tata group company. Rakesh Jhunjhunwala holds 3,37,60,395 shares or 3.80 per cent stake while Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in the company. So, Jhunjhunwala has 4.87 percent stake in the company or 4,33,00,970 shares of the company. The shareholding pattern of Titan Company for the October-December 2021 quarter is awaited.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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