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Rakesh Jhunjhunwala portfolio: The Indian gems and jewellery sector is gung-ho after the India-UAE trade agreement signed on Friday. In this tariff rate quota (TRQ) agreement, UAE has reduced its import duty on Indian exports on gems and jewellery from 5 per cent to zero. According to stock market experts, this is going to boost export business of organised gems and jewellery companies that includes Titan Company. They said that it has limited exports but the volume will definitely benefit the company. They advised positional investors to buy the Tata group stock in ₹2300 to ₹2450 range for one year target of ₹3000.
Decoding the India-UAE trade pact; Ravi Singhal, Vice Chairman at GCL Securities said, "This TRQ agreement between India and UAE will help Indian gems and jewellery export growth and organised companies are going to benefit from this. Titan Company, Rajesh Exports and Vaibhav Global are some of the listed companies that will also benefit from this pact. So, in short term, rising gold prices due to Russia Ukraine crisis and in long term, this India UAE pact is going to help Titan share price to surge."
Echoing with Ravi Singhal's views; Anuj Gupta, Vice President at IIF Securities said, "High risk short term traders can buy Titan Company shares at current price for immediate target of ₹2600 levels. However, investors are advised to maintain strict stop loss at ₹2330 apiece levels."
However, Ravi Singhal of GCL Securities said, "India-UAE trade pact is going to help Titan Company in long term while rising gold price will boost Titan share price in short term. My suggestion to positional investors is to invest for at least one year. They should buy Titan shares in ₹23000 to ₹2450 range for one year target of ₹3000 maintaining stop loss at ₹2150 apiece levels."
Rakesh Jhunjhunwala share holding in Titan Company
According to Titan Company shareholding pattern for October to December 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have shareholding in the company. Rakesh Jhunjhunwala owns 3,57,10,395 Titan Company shares, which is 4.02 per cent of total issued paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 Titan Company shares or 1.07 per cent stake in the company. So, Jhunjhunwalas together own 4,52,50,970 company shares or 5.09 per cent stake in this Tata Group flagship company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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