Rakesh Jhunjhunwala lost ₹ 318 crore in this Tata share in 10 minutes

Rakesh Jhunjhunwala’s stake in Titan Company

share price of titan company was closed on Yesterday at 2,357.25 per share on NSE and today it fell 2,283.65, down 10 minutes after market opening 73.60 per share in this period. As per the Titan Company’s shareholding pattern for the July to September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this Tata company. Rakesh Jhunjhunwala holds 3,37,60,395 shares of Titan Company, which is 3.80 percent of the total issued capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in the company. So, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have 4,33,00,970 shares of Titan Company.

The dent in the net worth of Rakesh Jhunjhunwala

Since Jhunjhunwala has 4,33,00,970 shares of Titan Company and the stock is lost 73.60 per share within 10 minutes of the market opening, this share of Tata declined due to the fall in the net worth of Rakesh Jhunjhunwala 318 crore ( 73.6 x 4,33,00,970).

share price of titan company

However, market watchers see this fall as a good buying opportunity for retail investors.

Buying Advice on Dips Strategy of Top Position Investors; Sumeet Bagadia, Executive Director, Choice Broking said, “Titan Company shares have strong support 2200 levels. One should buy this stock at current levels and hold it for immediate short term target from 2350 maintain stop loss at 2400 2200 levels.” Bagadiya advises investors to deposit more if the stock declines 2230-2240 levels.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.