Rakesh Jhunjhunwala Portfolio Stock Titan Company share price climbed to a new lifetime high 2,719.65 each level on the NSE. Titan’s share price is close today. open with upper gap of 13 per share and rose 4.50 per cent in morning deals, went on to climb to its new peak. However, stock market experts are still bullish over the counter and are advising positional investors to include this stock in their portfolio.
According to stock market experts, Rakesh Jhunjhunwala Portfolio Stock has given fresh breakout on from 2680 2700 level and it can go up 2900 level in near term. He further said that the recent rise in gold price across the country and festive season is expected to boost the balance sheet of the share price of the luxury product company.
Advising situational investors to add this Rakesh Jhunjhunwala stock to their portfolio; Sumeet Bagdia, Executive Director, Choice Broking said, “Titan share price has given a breakout today. from 2680 2700 levels. As the stock climbs to its new peak, there may be some profit-booking over the counter. Hence, new buyers are advised to wait and hold the buy on dips for the near term target from 2850 2900 per share level. However, one must maintain a strict stop loss 2550 levels.”
Sumeet Bagadiya, Choice Broking says that those who have this Rakesh Jhunjhunwala stock in their portfolio are advised to keep counter to the above target while new investors should enter mid. from 2600 2650 per share level.
Highlighting the fundamentals that could support a bullish run in Titan’s share price in the short to long term; Saurabh Jain, Vice President – Research, SMC Global Securities, said, “Titan Company deals in jewellery, watches and eye-wear products. Its jewelery segment is expected to benefit from margin gains from the recent gold price rally following the Russia-Ukraine war. It is expected that apart from this, this fashion company of Tata group has presence in all parts of India. Since India is a country of festivals, festivals in different parts of India give additional volume to its business. This will increase its market share. There has been a correction. And this trend is expected to continue further. Hence, one must add this stock to one’s portfolio for long term as it is expected to give great returns over long term horizon.
big bull earns 235 crores in 30 minutes
Titan share price rises in morning deals 52.25 per share ( 2639.55 – 2587.30) in the first 30 minutes of market opening. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have invested in this company as per the shareholding pattern of Titan Company for the quarter October to December 2021. Rakesh Jhunjhunwala holds 3,57,10,395 shares of Titan Company, which is 4.02 percent of the total paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in Titan Company. Hence, the Jhunjhunwala couple holds 4,52,50,970 company shares or 5.09 per cent stake in this flagship company of the Tata group.
This is how Rakesh Jhunjhunwala’s stock jumped 52.25 each, Rakesh Jhunjhunwala earned in the first 30 minutes of market opening 235 crore ( 52.25 x 4,52,50,970 in this period).
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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