Rakesh Jhunjhunwala Portfolio Shares of Titan Company is one of Rakesh Jhunjhunwala’s favorite stocks which remains a traditional investment option for Mutual Funds, FPIs and long term retail investors. This share of Tata Group has recently reached its all-time high 2,791 in the NSE at Rs. However, the stock has retreated from its record highs and is attracting the attention of long-term positional investors.
According to Share Market Shares of investor, Rakesh Jhunjhunwala-backed Tata Group have always been an ideal ‘buy on dips’ stock for long-term investors. The market is expecting strong quarterly results for Q3FY23 and Q4FY24 from this fashion stock. However, the stock has topped out on the chart pattern and it may retrace further higher 2500 level. So, one can start depositing from the current levels and keep depositing till it trades above 2350 each level. The stock may go up in the medium term 3,000 level whereas in the longer term, the stock is expected to move higher 5,000 each level.
Speaking on the fundamentals that will continue to support Titan shares in the coming quarters, Avinash Gorakshakar, Head of Research, Profitmart Securities said, “Titan Company has reported better than expected Q2FY23 results for the next half of the current financial year. Management commentary and business outlook is expected to remain at higher levels and hence it is going to attract long term investors and dips are a quality buy on the stock. Also, there is a dearth of quality and blue-chip stocks where FII and Mutual funds usually invest. In such a case, such investors are also expected to see Titan shares. Hence, a major fall in this stock should be seen as a buying opportunity.”
On what chart pattern is suggestive regarding Titan shares, Manoj Dalmia, Founder and Director, Proficient Equities said, “After giving a sharp rally in the recent sessions, Titan share price is trading at top edge and may remain under profit-booking for some.” is expected. Time. Hence, short term investors are advised to book profits at current levels or on any rise from current levels. Tata group stock is expected to move up 2500 each level. Hence, long term investors are advised to start accumulating at current levels till the stock moves higher 2350. One has to maintain a strict stop loss on 2350 by taking a long position in the counter.
Ravi Singhal, CEO, GCL Securities while taking long position in this stock said on medium and short term targets, “Long term investors can buy Titan shares with 6-9 months target. 3,000 and two year target 5,000 level.”
Rakesh Jhunjhunwala’s stake in Titan
Rakesh Jhunjhunwala and Rekha Jhunjhunwala have stakes in this Tata Group stock as per the Titan Company’s shareholding pattern for the July to September 2022 quarter. Rakesh Jhunjhunwala holds 3,41,77,395 shares or 3.85 percent stake in the company while Rekha Jhunjhunwala holds 1,50,23,575 shares or 1.69 percent stake in the company.
Titan Company Q2 Results
In early November 2022, Titan Company reported a 33.7 percent increase in net profit 857 crore for the September 2022 quarter. This is against the net profit of 641 crore in the year-ago period. In Q2FY22, the company’s revenue from operations grew by 22 per cent to Rs 8,730 crore 7,170 crore in Q2FY22.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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