Rakesh Jhunjhunwala buys further stake in the biggest stock of his portfolio, shareholding in Titan rises to 5.09%

14 Jan 2022 , 10:56 AM

Ace investor Rakesh Jhunjhunwala picked further stake in the biggest stock in his portfolio, Titan Company. Jhunjhunwala has increased his stake by 0.22% in the Tata Group-led company as of December 2021 (Q3FY22) period.

Jhunjhunwala who is called the ‘Warren Buffett of India’ increased his stake in Titan taking it to 4.02% with 35,710,395 equity shares as of December 2021. Earlier, he held about 3.8% in Q2FY22.

Notably, Rakesh through his wife Rekha already holds a 1.07% stake or 9,540,575 equity shares – which has remained unchanged since 2020.

That said, overall, the Dalal Street bull has a 5.09% stake in Titan with shares totalling 45,250,970 equity shares.

As per Trendlyne.com, Jhunjhunwala’s holding in Titan is valued at over Rs11,830cr as of today.

In its operation update for December 2021 quarter, Titan outlined that it witnessed strong demand across its consumer businesses and clocked 36% growth in revenue during Q3FY22 over the festive quarter last year. As of December 2021, the company has total stores of 1,935 with net additions of 89.

At around 10.45 am, Titan was trading at Rs2596 per piece down by Rs22.65 or 0.9% on Sensex. The stock has touched an intraday high and low of Rs2643.05 per piece and Rs2590.50 per piece respectively.