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Rakesh Jhunjhunwala Portfolio: Titan shares rise 3% post quarterly business update

Rakesh Jhunjhunwala Portfolio

Rakesh Jhunjhunwala Portfolio: Titan shares rise 3%

Titan Company, a gems and jewellery maker that is part of Big Bull Rakesh Jhunjhunwala’s portfolio, had its stock drop 3% when the company released its quarterly business update. 
 
On the BSE, the stock began 1% down at Rs 2,517, vs a previous finish of Rs 2541.25. The shares are higher than the 100-day and 200-day moving averages but lower than the 5-day, 20-day, and 50-day moving averages, with a market capitalization of more than Rs 2,20,000 crore. 
 
Long-term investors have profited handsomely from this stock, which has increased by more than 400% in the last five years and more than 900% in the last 10. 
 
Long-term investors have profited handsomely from this stock, which has increased by more than 400% in the last five years and more than 900% in the last 10. 
 
Titan said it ended the quarter on a positive note, despite the fact that it was disrupted twice: once in January due to partial lockdowns caused by the Omicron wave, and again in March when consumer sentiment was negatively impacted by a sharp increase in gold prices, volatility, and uncertainty due to a fragile geopolitical situation.

Rakesh Jhunjhunwala Portfolio

Over a solid Q4 FY21 base, the Jewellery segment closed the tumultuous quarter on a flat note (had a benefit of a large B2B order). “Business observed muted activity in top cities due to the Omicron wave in January’22, a very strong resurgence in February’22, and a reduction in client purchases in March’22 on the back of large rises in gold prices and sentiment impact due to the external geo-political conflict,” says the report. Titan remarked. 
 
Despite a hard external climate, the watches and wearables segment achieved strong growth, with sales increasing across all offline channels thanks to the Titan brand. Retail and Large Format Stores (LFS) sales grew at a faster rate than Trade sales. Among geographies, the West and North showed substantially larger increase. 
 
The rise of Titan’s Eyecare sector was led by frames and sunglasses, according to the company. The expansion of the network has continued in line with the company’s aggressive growth ambitions for the coming year. 
 
According to the BSE’s shareholding pattern, Jhunjhunwala and his wife Rekha had 4,52,50,970 shares in the firm at the end of the December quarter, representing a 5.09 percent interest. Rakesh Jhunjhunwala owned 3.57 crore shares, or 4.02 percent of the company, in the September quarter. His wife, Rekha, owned 95.40 lakh shares in the company, or a 1.07 percent interest. 
 
Titan Company Limited recorded a net profit of Rs 987 crore for the October-December quarter, up 135% year on year. Revenue from the sale of goods and services increased by 36% to Rs 9,381 crore. 

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