Rakesh Jhunjhunwala may have made Rs 196 crore from just one stock this week as D-Street slipped

Rakesh Jhunjhunwala made Rs 196.94 crore in the last five trading sessions from just one of his investments while the benchmark indices plunged amid heightened volatility. Often called the big bull of Dalal Street, Rakesh Jhunjhunwala is known for his love for the stock that has helped him achieve this feat and it is not the first time this single stock has aided his portfolio in such a manner. The stock, Titan Company Ltd. Share price of Titan was Rs 1,467.7 apiece at the end of last week’s and this week, despite the fall on Wednesday and Thursday, Titan shares closed with gains.

Rakesh Jhunjhunwala along with his wife Rekha Jhunjhunwala owned a 5.32% stake in the company at the end of December last year, according to the shareholding pattern available on the stock exchanges. Of this, the ace investor has 3,75,10,395 equity shares to his name while 96,60,575 equity shares are in the name of his wife.

Cumulatively the value of the 4.71 crore equity shares owned by the Jhunjhunwala’s stood at Rs 6,923.28 crore at the end of the previous week’s trade. As Titan’s share price zoomed this week, with a 2% jump on Tuesday and a 4% spike on Friday, the value of Rakesh and Rekha Jhunjhunwala’s stake increased to Rs 7,120.22 crore. This translates into an addition of Rs 196.94 crore to the wealth of the big bull while the stock markets witnessed a bearish sentiment.

Although the Rekha and Rakesh Jhunjhunwala have trimmed their holdings in Titan over the previous quarters, the stock has continued to surge. In the last six months, the stock has zoomed 32%. Titan share jumped 33% in the last quarter, which could have been the reason behind Rakesh Jhunjhunwala trimming his stake in the firm and booking profits. The Jhunjhunwala’s trimmed their holdings in Titan by 18 lakh equity shares last quarter.

Titan has been bouncing back strongly from the pandemic. In the previous quarter, the company reported a 16.7% on-year increase in revenue, while EBITDA jumped 13.7%. Net profit in the third quarter of the fiscal year jumped over 10% for Titan. In a recent interaction at the Edelweiss e-Conference 2021, Titan management hinted that growth continues to remain strong in January. 

(Calculations based on the shareholding pattern for quarter ended December 2020, available on stock exchanges)