Shares of Titan Company-wherein Jhunjhunwala family stake is over 5%- surged in trade on March 16, 2022 to day’s high price of Rs. 2593.5. The stock is now close to its all time high price of Rs. 2687.3. In fact the stock of Titan is just 3.7% away from its all time high currently. The company hit an all time high price on January 7, 2022.
In fact in the initial years of its listing or the stock’s all time low has been Rs.1.35 and hence has generated a return to the tune of 34,663.86%. Rakesh Jhunjhunwala identified the fortune that the stock can build for him and aggregated the stock at a very low price of Rs. 3 and then enhanced his investments in it to now own 3.57 crore shares, or 4.02 per cent stake, in the firm as at the December ended quarter of Fy22. Further talking about his wife, she has 1.07% stake.
Also, the firm has a high FII and DII stake at 18.55 and 10.46%, respectively. Promoter stake has also been held steady at over 52.9%.
Primarily, Titan through its Tanishq brand in the jewellery segment as well as now foray into smart wearables has created a unique brand positioning for irself.
The stock is trading above its 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
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Story first published: Wednesday, March 16, 2022, 21:02 [IST]