Rekha Jhunjhunwala, wife of the late investor Rakesh Jhunjhunwala, saw the value of her holdings in Titan Company decline by over ₹800 crore today. This drop is due to a fall in Titan’s share price following the company’s Q4 results announcement.
Rekha Jhunjhunwala Stake in Titan
- Holds a 5.35% stake in Titan (as of March 31, 2024)
- The stake value was ₹16,792 crore on Friday’s closing price
Titan’s Share Price Performance Today
- Fell over 5% after Q4 results
- Market capitalization dropped below ₹3 lakh crore mark
Impact on Rekha Jhunjhunwala Stake
- Notional investment value is now ₹15,986 crore
- Down ₹805 crore
Reasons for Share Price Drop
- Titan reported a 7% rise in net profit for Q4, which fell short of investor expectations.
- Analysts predict headwinds for Titan’s margins due to gold price volatility and increased competition.
While Antique Stock Broking reduced its earnings per share (EPS) estimates for Titan in the near term, it remains optimistic about its long-term prospects due to its strong brand and expanding business segments.
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