Titan share price hits record high. Rekha Jhunjhunwala's net worth jumps ₹2400 crore in two months

Rekha Jhunjhunwala portfolio: Titan company shares have been in uptrend after bottoming out in mid of March 2023. Titan share price on Tuesday opened upside and went on to hit life-time high of ₹2,841.90 per share levels within few minutes of stock market's opening bell. While climbing its new peak, Titan shares logged over one per cent intraday gain during early morning deals on Tuesday.

Comparing Titan shares' bottom price with new peak of Titan share price made on Tuesday, this Rekha Jhunjhunwala portfolio stock has risen from around ₹2330 to ₹2841.90 apiece levels, delivering to the tune of 65 per cent to its positional investors in last two months. Amid Titan share price hitting fresh high, Rekha Jhunjhunwala's net worth surged over ₹2400 crore in this time.

Jhunjhunwala net worth rises ₹2400 crore

According to shareholding pattern of Titan Company for January to March 2023 quarter, Rekha Jhunjhunwala holds 4,69,45,970 Titan shares, which is 5.29 per cent of total paid up capital of the company.

As Titan share price surged around ₹24,03,63,36,640 ( ₹512 x 4,69,45,970) or over ₹2400 crore this period.

Titan Company results

In Q4FY23, Titan Company reported a rise of 50 per cent in standalone net profit to ₹734 crore for the quarter ended March 2023. This is against a net profit of ₹491 crore in the year ago period. The revenue from operations rose by 25 per cent to ₹8,753 crore in the quarter under review from ₹6,977 crore in the year ago period.

The jewellery segment grew by 24 per cent to ₹7,576 crore in the March quarter. The India business grew by 21 per cent in the same time. The wedding segment saw a comeback with growth rates marginally higher than the overall retail sales growth, the Tata group company claimed.

In January to March 2023 quarter, Titan Company moved into the top 5 smartwatch companies by market share in India. EBIT for the segment came in at ₹98 crore, while clocking an EBIT margin of 11.3 per cent.