Rakesh Jhunjhunwala portfolio: After making its intraday low of ₹2,358.95 per shares at around 1:15 PM on 1st February, Titan Company shares participated strongly in the post-budget rally and closed ₹75.75 higher from its previous day close
After announcement of reduction in customs duty on cut and polished diamond in Budget 2022, Titan Company share price started showcasing sharp upside movement within an hour. Titan Company, one of the Rakesh Jhunjhunwala holding companies, deals in gems and jewelry business and stock market experts are of the opinion that Budget 2022 proposal is expected to boost business of the company.
After making its intraday low of ₹2,358.95 per shares at around 1:15 PM on 1st February, Titan Company shares participated strongly in the post-budget rally and closed at 2,436.05 per share levels, ₹75.75 higher from its previous day close. This post-budget rally in Titan Company share price helped Rakesh Jhunjhunwala’s net worth grow around ₹342 crore.
According to Titan Company shareholding pattern for October to December 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have shareholding in the company. Rakesh Jhunjhunwala owns 3,57,10,395 Titan Company shares, which is 4.02 per cent of total issued paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 Titan Company shares or 1.07 per cent stake in the company. So, Jhunjhunwalas together own 4,52,50,970 company shares or 5.09 per cent stake in this Tata Group flagship company.
How Rakesh Jhunjhunwala earned ₹342 crore
As mentioned above Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together own 4,52,50,970 Titan Company shares that shot up ₹75.75 in post-budget rally. So, Jhunjhunwala earned around ₹342 crore ( ₹75.75 x 45250970).