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Rakesh Jhunjhunwala portfolio: Titan Company shares are one of the favourite portfolio stocks of Big Bull Rakesh Jhunjhunwala. The 'Warren Buffett of India' and has wife Rekha Jhunjhunwala have investments in this Tata group company that surprised market observers after reporting a robust growth momentum, indicating healthy market share gains. According to stock market experts, Titan Company share price is already in 'uptrend' and after this robust third quarter business update, they are expecting sharp upside move in this Rakesh Jhunjhunwala stock.
Speaking on this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan Company share is looking bullish on chart pattern. It may go up to ₹2700 per share levels in immediate short term whereas in short term it may go up to ₹2900 per share levels. So, my suggestion to positional investors is to buy this Tata group share at current market price maintaining stop loss at ₹2525 levels."
Highlighting the strong fundamentals coming out of Titan Company's Q3FY22 business update; Ashit Desai, Senior Research Analyst at Emkay Global Financial Services said, "Titan's Q3 business update highlights a robust growth momentum, indicating healthy market share gains. The Jewelry division reported strong 37 per cent growth (ex-bullion sales) with a 2-year CAGR of 26 per cent," adding, "Excluding bullion sales of ₹3.4bn in the base quarter, the Jewelry segment grew 37 per cent in Q3 and posted a healthy 2-year CAGR of 26 per cent. The strong sales CAGR were driven by a near 15 per cent jump in ticket size against pre-pandemic levels, higher footfalls/conversions and around 9 per cent CAGR in the store count. Management attributed the strong trends to buoyant jewelry demand during the festive season as well as new customer acquisitions, aided by its regionalization strategy. The studded mix improved slightly vs. the previous year. Enrollments in the Golden Harvest Scheme (GHS) recorded strong double-digit growth. Tanishq's network was expanded by 14 stores, including two new stores at prime locations in Dubai."
Ashit Desai of Emkay Global Financial Services also suggested Titan Company shareholders to further hold the counter for its next short to medium term target of ₹3,000 levels.
Rakesh Jhunjhunwala shareholding in Titan Company
According to Titan Company's shareholding pattern for September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in the Tata group company. Rakesh Jhunjhunwala holds 3,37,60,395 shares or 3.80 per cent stake whereas Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in the company. So, Jhunjhunwalas together hold 4.87 per cent stake in the company or 4,33,00,970 company shares. Titan Company's shareholding pattern for October to December 2021 quarter is still awaited.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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