Nearly ₹200-crore gain in two days: Rekha Jhunjhunwala’s profit swells after rally in this Tata stock

Titan Company shares rallied as much as 2.54% to hit a high of ₹3,642.55 per share on NSE despite a weak broader market. The stock later pared gains to settle 0.63% higher at ₹3,574.35 apiece on the NSE.

Titan shares have been on the rise since Thursday and have jumped around 6% during this period. The rally in the stock has swelled the overall value of ace investor Rekha Jhunjhunwala’s portfolio by nearly ₹196.5 crore.

Ace investor Rekha Jhunjhunwala makes gains of ₹196 crore amid Titan rally

Ace investor Rekha Jhunjhunwala, who holds around 1.08% stake or 95,40,575 equity shares in Titan Company as of December quarter, has gained around ₹196.49 crore due to the rally.

As the stock has jumped by ₹205.95 per share from ₹3,368.4 to ₹3,574.35 (Monday closing price) since Thursday’s close, the value of shares held by Rekha Jhunjhunwala soared by ₹196.49 crore.

The Life Insurance Corporation of India (LIC), which holds a 2.17% stake in Titan, has also made significant gains due to the rally.

Consumer Durables shares gained for the second day after the Budget announcements providing tax relief, which experts said would leave more money in the hands of taxpayers and thus lead to higher consumption.

Among NIFTY sectoral indices, the Consumer Durables index was the second biggest gainer rising by 0.53% to 38,910.25. The index hit a high of 39,204.4 as shares of Voltas, Century Ply, Whirlpool, Bata India and Titan led the rally.

However, leading FMCG stocks like Colgate, Tata Consumer, Marico and HUL, declined on Monday due to profit-taking.