Rekha Jhunjhunwala’s significant stake in Titan Company, a Tata group firm, has been impacted by the recent decline in the company’s share price. As of March 31, 2024, she held a 5.35% stake in Titan, which was valued at ₹16,792 crore based on the closing price on Friday. However, Titan’s share price plunged by over 5% following the release of its Q4 results, leading to a notable loss for Rekha Jhunjhunwala.
As a result of the share price decline, Titan’s market capitalization fell below ₹3 lakh crore, dropping from ₹3,13,868 crore on Friday to ₹2,98,815 crore. Consequently, Rekha Jhunjhunwala’s notional investment value has decreased by ₹805 crore, now standing at ₹15,986 crore.
The fall in Titan’s share price was attributed to a rise in the price of gold and increased competition, which are expected to impact the company’s margins in the near term, according to Antique Stock Broking. Despite these headwinds, the brokerage firm remains optimistic about Titan’s long-term performance, citing its strong brand presence, execution, and growth potential in the jewelry business.
